Law changes in 2005 created a “Means Test” as a method of determining who is eligible to file for Chapter 7 relief. Households with too much income or too little allowed expenses will not be eligible. The “Means Test” uses the past 6 months of household income to determine the average income (called “Current Monthly Income” or CMI) and then applies a formula. If the CMI is above the state median income for the family size then expenses are deducted based on allowed amounts set forth in the IRS collection standards. If the allowed amount of expenses leaves no disposable income then Chapter 7 is allowed. If too much disposable income remains then Chapter 7 is not allowed. If the household CMI is below the state median income for the family size then the Chapter 7 is allowed.
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HSQ attorney’s Megan Quillen and Keith Slocum attended Bankruptcy Bootcamp at Nashville School of Law in July 2017. The intensive bankruptcy sessions were lead by Chapter 13 Trustee Hank Hildebrand, a leading bankruptcy expert in middle Tennessee. Six classes were held over six weeks and covered advanced strategies in managing bankruptcy cases. “Our firm, Harlan
Certified Bankruptcy Specialist Keith Slocum was honored with the Appellant Award at the NACBA 2017 National Convention in Orlando, Florida on May 4, 2017. Slocum was recognized for his efforts in overturning a bankruptcy court judge’s decision against his client that he appealed in district court. The case has been continued back to the bankruptcy
HSQ attorney Keith Slocum attended the National Association of Consumer Bankruptcy Attorney’s (NACBA) Annual Convention held May 3-5, 2017 in Orlando, Florida. Slocum also attended a pre-conference intensive workshop on student loan debt. The daylong session dealt with the different types of student loans, student loan programs and their respective implications in bankruptcy. “The financial