New means test numbers are out

[Bkman2]

I checked and the new numbers are out. I'm a family of 3 in Nevada and it was $5588 a month. As of today it's $5568 a month.

[jdcat]

Yes and for those with families of 5 or greater after April 1st another $7500 per person is added instead of $6900.

[BCA2009]

This just doesn't make sense to me (I know, nothing the Gov does maakes sense).

The economy is getting worse, people are getting further behind and the stardards for the means test makes it harder to file BK.

If the economy was booming, these numbers would be going up and it would be easier to qualify for Chap 7.

What a bunch of morons that wrote this law.

[Amadan]

Im not sure they are morons, they seem to be doing it to PREVENT us from filing.

[BCA2009]

Im not sure they are morons, they seem to be doing it to PREVENT us from filing.

My point was that if the economy was booming, they would allow us to use higher incomes and allowed expenses to qualify, therefore making it easier to qualify, But in a down economy the numbers decrease making it harder.

I don't dispute that they want it to be hard to qualify, but the inverse relationship doesn't make sense.

In a growing economy it makes sense to adjust the numbers against CPI or whatever they use. But when the economy tanks, none of our expenses have gone down. But the allowable expenses and and allowable revenue for the bankruptcy tests have gone down. The rent, utilities, car payment, and especially credit card interest that we pay have not gone down. Whatever peg that they tie the rates to, does not make logical sense to use for BK calculations in a declining economy.

IMHO

[Pizza]

This just doesn't make sense to me (I know, nothing the Gov does maakes sense).

The economy is getting worse, people are getting further behind and the stardards for the means test makes it harder to file BK.

If the economy was booming, these numbers would be going up and it would be easier to qualify for Chap 7.

What a bunch of morons that wrote this law.

The means test isn't designed to be incredibly hard to pass; but median is median - the country is getting poorer, so median income is dropping.

[jimbo367]

where are these new numbers?

[Naomi]

This is the link I use:

http://www.legalconsumer.com/bankruptcy/nolo/