Top 5 Bankruptcy Misconceptions
Many people hesitate filing for bankruptcy. No one wants to do it. But many, should do it. Making that determination is often the hardest part about filing for bankruptcy. There are many...
high income broke debtors… recent trends in bankruptcy
http://qz.com/520414/the-high-earning-poor/Do you earn a decent salary, but live...
I is for Income
Income. So many topics to cover. Schedule I is where income is listed in a bankruptcy petition. The Means Test Form 22a and Form 22C (chapter 7 or chapter 13 respectively) computes disposable monthly income too. This is a 6...
New updated median income figures for bankruptcy filers
Median income level for Illinois based on family sizeEffective: 2/1/08
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Can a spouse file an individual bankruptcy?
I received an email today from a prospective client asking if a spouse could file bankruptcy without her spouse. Excellent question. Although both spouses are not required to file bankruptcy jointly, the Bankruptcy Code does require both...
Feb 1 – Updated census bureau median income in Illinois
For Illinois Bankruptcy filings: Census Bureau Median Family Income By Family Size <h3 style="color: rgb(51, 255, 51);"...
Bankruptcy Chapter 13 Law update
Projected Disposable Income is the Same as Disposable Income(Form B22C Controls)In re Farrar-Johnson, WL 2662709 (Bankr. N. D. Ill. 9/15/06.)Under Chapter 13 where a debtor is above the median income, section 1325(b)(3) makes clear that Schedule...