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The Means Test in a Chapter 7 Bankruptcy Proceeding

When you're looking to file for personal bankruptcy protection, there are generally two options—a Chapter 7 liquidation proceeding and a Chapter 13 "Wage Earner's Plan." For most of the history of American bankruptcy law, there were few limits on which route you could choose. However, in 2005, Congress made sweeping changes to the bankruptcy laws, … [Read more...]