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Means Test (view source)

Revision as of 03:31, November 19, 2007

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Examples are programs such as foods stamps and Medicaid.
 
Examples are programs such as foods stamps and Medicaid.
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In Section 707(b)(2) of the [[Bankruptcy Code]], a '''Means Test''' is used to determine whether an individual [[debtor]]'s [[chapter 7]] filing is presumed to be an abuse of the [[Bankruptcy Code]] requiring dismissal or conversion of the case (generally to [[chapter 13]]). Abuse is presumed if the debtor's aggregate current monthly [[income]] over 5 years, net of certain statutorily allowed expenses is more than (i) $10,000, or (ii) 25% of the [[debtor]]'s nonpriority unsecured debt, as long as that amount is at least $6,000. The debtor may rebut a presumption of abuse only by a showing of special circumstances that justify additional expenses or adjustments of current monthly [[income]]. [[category:legal terms]]
 
   
 
   
 
[[Category:United States Government]]
 
[[Category:United States Government]]
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