Means Test
Nov 12, 2013In 2005 Congress enacted and included as part of the new bankruptcy vernacular a concept called The Means Test. Basically what this amounts to is an attempt on behalf of Congress to make certain that t...
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Dwayne M Farnsworth's Legal Guides (88)
Mesa, AZ
Bankruptcy and debt Lawyer at Mesa, AZ
Practice Areas: Bankruptcy & Debt, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy
Property of the Bankruptcy Estate
Nov 12, 2013Once a bankruptcy has been filed, all of the debtors property, wherever located, and by whomever held, becomes property of the bankruptcy estate. A bankruptcy estate is an artificial legal entity creat...
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Nov 12, 2013Certain assets are intangible. For example, bank accounts, investment accounts, stocks, bonds, security deposits, insurance proceeds, cash value life insurance proceeds, insurance proceeds for damaged...
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Nov 12, 2013Because there are any number of personal property assets that can be considered as necessary to allow a debtor to maintain their basic standard of living, and to function and operate in their day-to-d...
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Nov 12, 2013In order that debtors can continue to ply their trade, produce an income, and provide for their families and livelihood, the legislature has provided an exemption for a debtors tools, equipment, and o...
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Nov 12, 2013Under Arizona law a debtor can protect the equity in a motor vehicle up to $6000. This amount can be doubled to $12,000 if the debtor, or a dependent of the debtor, is physically disabled. As with the...
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Nov 12, 2013In order to allow families to protect and preserve their most basic asset of security and protection, most legislatures have enacted very generous homestead exemptions to protect the equity in a debto...
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Nov 12, 2013Certain assets that we own are protected under state or federal laws. These assets are called exemptions. An asset is exempt from legal process by virtue of statutes and laws that Congress or the state...
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Nov 12, 2013These are people or institutions where you pledged collateral to secure the promissory note or debt. For example, when financing a home we give a deed of trust or mortgage, when purchasing a new or us...
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Sep 26, 2013Types of Debt...
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