More and more federal bankruptcy courts are offering debtors the means to file bankruptcy electronically without needing a lawyer or online service. These programs are spreading each year. Ask your local court if they plan to offer such services in the future. Some districts offer step-by-step interactive interviews, while others simply provide ways to upload PDF […]
LegalConsumer has published updated inflation-adjusted state exemption amounts for 2022–2023. Several states update their exemption amounts for inflation. Some states increase every even year, like Minnesota, South Carolina, and Alaska, while others change every three years, like New York, California, Ohio, and Michigan. Still, others change every year, like the Arizona Homestead Exemption, the Montana […]
December 5, 2022, Arizona increased the state’s homestead exemption from $250,000 to $400,000, the exemption in bank accounts from $300 to $5,000, both the vehicle and household goods exemptions from $6,000 to $15,000, and the garnishment protection to 90% of disposable wages or 60 times the highest minimum wage in the state, whichever is greater. […]
Twice a year, the Department of Justice revises the median income numbers applied for each state, when determining the standards of the Bankruptcy Means Test. The new figures apply to cases file on or after November 1, 2022. The Means Test Calculator has been updated. The Means Test determines whether you can file Chapter 7 Bankruptcy or […]
Source: Adjustment of Certain Dollar Amounts in the Bankruptcy Code A Notice by the Judicial Conference of the United States on 02/04/2022 Affected sections of Title 28 U.S.C. and the bankruptcy code Dollar amount to be adjusted New (adjusted) dollar amount 1 28 U.S.C. Section 1409(b)—a trustee may commence a proceeding arising in or related to a case to […]
April 1, 2021 Median Income Update for Bankruptcy Means Test The Means Test Calculator on the LegalConsumer.com website has been updated to incorporate the fact that The Executive Office for U.S. Trustees (EOUST) has published its updated April 1, 2021 median income data for the bankruptcy means test. New Median Income numbers up 1.2% across the board The […]
As of January 1, 2021 Californians will enjoy a new homestead exemption law for California which will allow debtors to protect as much as $600,000 of their home’s equity.