The Bankruptcy Means Test

The Means Test            

Continuing in our series on the Bankruptcy Code changes, implemented in 2005, Christopher Missick spends a few minutes in this podcast addressing the implementation of the means test.  He explores what it is, why the credit card lobby fought to have it included, and whether the impact on debtors was as bad as we all first assumed it would be.  

As always, this does not constitute legal advice or an attorney client relationship.  Please contact the offices of the Missick Law Group at info@missicklaw.com with questions.

What is BAPCA?

What is BAPCA?      

On October 17, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act became law, and the processes for filing for bankruptcy changed dramatically.  This podcast is just a brief introduction to the adoption of BAPCA, and begins a short series of looking at what changes were implemented with the legislation.  

Bankruptcy Exemptions

Bankruptcy Exemptions

Fortunately, bankruptcy does not mean that you are going to lose everything you have, even though a Chapter 7 is referred to as a liquidation.  

Over the course of this podcast, I discuss what an exemption is, and how they are applied.  As an attorney in California, this podcast is a little California heavy.  Exemptions can be complicated, since each state has the opportunity to adopt its own standards, and as a result, there is no one size fits all discussion.  I do try and parse out what an exemption is however, and how they apply to bankruptcy.  That in itself may be helpful and interesting to anyone outside of California.  

Chapter 13

Chapter 13 Bankruptcy

Although not nearly as common as a Chapter 7, Chapter 13 offers an alternative to debtors seeking relief and protection in bankruptcy.  Chapter 13, or the Wage Earners Plan, provides for a payment plan over 3-5 years.  

In this podcast, I explore not only what a Chapter 13 entails, but also discuss what a chapter 13 plan is and what is required of one in order for it to be approved.

Non-Dischargeable Debt

Non-Dischargeable Debt

Just because bankruptcy provides consumers a way to get rid of a great deal amount of consumer debt, there are exceptions as to what kinds of debt may be discharged.  In this episode, I discuss those debts which are deemed non-dischargeable, and some that I classify as rarely-dischargeable.