What Is the Marital Adjustment Deduction?
The Means Test and the Marital Adjustment Deduction Since the Bankruptcy Code was amended under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), a debtor needs to determine if they are subject to the Means Test before they can file for Chapter 7 Bankruptcy. See 11 U.S.C. § 707. The Means Test […]
What Are the Federal Bankruptcy Exemptions?
When a debtor files for bankruptcy, they do not have to give up all their property and assets. The U.S. Bankruptcy Code contains a series of exemptions for different types of property that a debtor can keep when they file for bankruptcy. See 11 U.S.C. § 522. The property covered by these exemptions are referred […]