Bankruptcy Means Test
2005 law changes require people who want to file for Chapter 7 bankruptcy to “pass” the Chapter 7 means test
As every consumer bankruptcy attorney knows by now, the October 2005 bankruptcy law reforms have created a number of new obstacles for you and for your prospective clients. One of the most intimidating aspects for a consumer hoping to file for bankruptcy protection is the Means Test requirement.
Many consumers have heard about the Means Test, and have heard that it's "harder" to file for Chapter 7 bankruptcy under the new law. However, they don't know what the Means Test entails or how to determine whether or not they're really eligible for Chapter 7 bankruptcy.
You undoubtedly know that the vast majority of people who would have filed for Chapter 7 bankruptcy protection under the old law can still do so. However, the Quick Means Test at Start Fresh Today will allow you to pre-screen the likely eligibility of your potential Chapter 7 clients.
Designed for lawyers by lawyers, Start Fresh Today is your complete BAPCPA solution. In addition to the Quick Means Test, Start Fresh Today offers you access to credit reports, tax returns, real estate appraisals and other due diligence products. Your clients can purchase debtor education packages and credit counseling briefings right here on the site, and complete those programs anywhere they have Internet or telephone access.
The Bankruptcy Lawyers Blog at Start Fresh Today, written by nationally-known consumer bankruptcy attorney Kevin Chern, helps bankruptcy lawyers stay up-to-date on the BAPCPA changes and how they are affecting lawyers nationwide.
The site also offers direct billing, online ordering, and e-mail reminders of upcoming deadlines and client education requirements. You also can create databases of your clients and your trustees' requirements. All 501(c)(3) agencies meet UST requirements. The site was designed for easy use by both attorneys and their clients.