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Means Testing Does Not Apply In Business Cases

It is the common misconception that the Bankruptcy Code’s means testing requirements limit the pool of people that qualify for Chapter 7 relief to low income earners. This is not true in all cases. There is a major exception for cases in which the majority of debts were incurred for a business rather than a consumer purpose. The means testing requirements simply do not apply to cases in which the majority of debt was incurred for a business … [Read more...]

Houston Bankruptcy Court Revokes Discharge for Failure to List Assets

Some bankruptcy clients do not take the bankruptcy disclosure process seriously. Some view it as unimportant lawyer paperwork. This attitude is a serious mistake. Any competent bankruptcy attorney will tell all of his clients that they must disclose and itemize all assets, creditors, income, expenses and other required information. The bankruptcy schedules must be meticulously accurate and complete. All assets must be disclosed, even if the … [Read more...]

Joint Bankruptcy Cases Now Legal for Married Same Sex Couples

Today in Obergefell v. Hodges, 14-556 (2015), the U.S. Supreme Court, in a 5 to 4 decision, ruled that marriage is fundamental right for same sex couples. Under the Due Process and Equal Protection Clauses of the Fourteenth Amendment, same-sex couples may not be deprived of the right to marry. Any state laws that deny the right of same sex couples to marry on the same terms and conditions as opposite-sex couples are invalid. This decision will … [Read more...]