Very Special Circumstances--The Almost Irrebuttable Presumption of Abuse Under Section 707(b)(2)
In: The American Bankruptcy Law Journal, Jg. 91 (2017-07-01), S. 393
Online
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Zugriff:
In bankruptcy cases filed under chapter 7 of the Bankruptcy Code, 1 an individual debtor turns over the debtor's nonexempt property to the trustee in bankruptcy. 2 The trustee then sells that property 3 and distributes the proceeds to creditors in accordance with their respective priorities. 4 In most chapter 7 cases, unsecured creditors receive virtually nothing on account of their claims. 5 In a chapter 13 case, by contrast, the trustee does not collect and sell property of the estate, including debtor's nonexempt property, 6 but the debtor must pay his or her creditors out of future earnings or other future income 7 over the duration of the plan, generally three to five years. 8 The centerpiece of the "bankruptcy abuse prevention" aspect of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) 9 was the addition to the Bankruptcy Code of provisions dealing with what Congress called "Needs-Based Bankruptcy" 10 and what others have familiarly called "means-testing." 11 Through these amendments Congress provided that the court may dismiss a chapter 7 bankruptcy case filed by an individual debtor whose debts are primarily consumer debts 12 if the granting of relief under chapter 7 "would be an abuse of the provisions of [chapter 7]." 13 In applying the standard of abuse, the court is directed to presume that abuse exists if the debtor's "current monthly income" (as defined in � 101(10A) of the Bankruptcy Code) 14 reduced by certain specified monthly expenses 15 and ...
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Very Special Circumstances--The Almost Irrebuttable Presumption of Abuse Under Section 707(b)(2)
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Autor/in / Beteiligte Person: | Bartell, byLaura B. |
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Zeitschrift: | The American Bankruptcy Law Journal, Jg. 91 (2017-07-01), S. 393 |
Veröffentlichung: | 2017 |
Medientyp: | academicJournal |
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