Bankruptcy issues, articles and thoughts by attorney Mark J. Markus
This article is part of my bankruptcy alphabet series People are Not Numbers When numbers are used to identify people, it’s usually when they are in prison. The Bankruptcy laws used to be about helping out people (and businesses) in need. They were about equitable solutions to serious financial problems. Laws in general are [...]
You can be below the median income and still not qualify for bankruptcy, and above the median and be able to qualify. Sound confusing? Read more.
What are some of the dangers of borrowing against your 401k or retirement plans? How does this affect your ability to file for bankruptcy protection?
Gifts and bankruptcy. Gifts you make and gifts you receive can both have significant consequences in a bankruptcy case. Learn why.
Credit card and student loan payments do not factor in to the analysis for determining Chapter 7 eligibility. It seems not a day goes by that I’m not trying to explain to a potential client why their payments to debts owed to unsecured creditors do not count in their budget in determining eligibility to file [...]
What is the means test in bankruptcy? What does it mean? How is it calculated?
The fact that a non-filing spouse’s income must be included in the bankruptcy case of the other spouse is one of the most difficult concepts for my clients to grasp. The common scenario is this: Both Spouse’s Incomes Must Be “Included” One spouse has certain debts which are only in that spouse’s name and may [...]
Earlier this month, the Ninth Circuit Court of Appeals in Maney v. Kagenveama (In re Kagenveama), 527 F.3d 990 (9th Cir. June 2008) held that where an above-median chapter 13 debtor has negative “disposable income” per the means test but a monthly surplus per schedules I and J, the debtor is NOT required to propose [...]
