top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

I asked my attorney about the 707(b) section! (median income/means test issue)

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    I asked my attorney about the 707(b) section! (median income/means test issue)

    Well, if you've read my other novel... er... post, you know that I finally found an attorney that I like. This guy's been a Trustee and represents debtors, creditors and Trustees. He really seems to know his stuff and he was very patient with me and answered a lot more questions than I thought he would.

    I asked him about the section 707(b) stuff that has been a frequent topic here.

    A brief overview of the relevent portions of this section:

    707(b)(1) - trustee/judge can dismiss or move to convert your chapter 7 if granting you a chapter 7 would be an "abuse" of the chapter 7 code.

    707(b)(2)(A) - This discusses what constitutes an abuse... specifically, if you have $100/month or more disposable income.

    707(b)(3) - Further discussion of what consitutes an abuse. specifically, If the "100/month" piece in 707(b)(2)(A) doesn't apply to you, they have to decide:
    (direct quotes from the code)
    (A) whether the debtor filed the petition in bad faith; or
    (B) the totality of the circumstances (including whether the debtor seeks to reject a personal services contract and the financial need for such rejection as sought by the debtor) of the debtor's financial situation demonstrates abuse.

    Now the REALLY important part here: (direct quote from the code)
    707(b)(7) No judge, United States trustee, panel trustee, bankruptcy administrator or other party in interest may bring a motion under paragraph (2), if the current monthly income of the debtor and the debtor's spouse combined, as fo the date of the order for relief when multiplied by 12, is equal to or less than -- (the median income for your state for the size family you have)


    OK, now what _I_ read this to mean, specifically section 707(b)(7) is that if you're below the median income, they can't dismiss your case or force you into a chapter 13 just becase you have more than $100/month disposable income.

    So, it would seem that if you're below the median income, you get a "free pass" to chapter 7 if that's what you want... irregardless of your disposable income.

    The thing that still gets people worried though is that section 707(b)(3)... What exactly does "bad faith" mean? What "totality of the circumstances" would add up to abuse? This is very ambiguous and unclear.

    I said these same things to my attorney and he said that I pretty much have it right... no one knows exactly what they're supposed to do. The code DOES look like it says you get a free pass if you are below the median income... but that section 3 has the judges and trustees scratching their heads trying to figure out how to measure it. I mean, if someone is below the median and has $2000/month disposable income... is that an abuse of the system under this code? Section 7 seems to say that it doesn't matter what your disposable income is if you're below the median income... So what do they do?

    He said that this is not settled yet and may not be for quite some time. Until then, it's really judge by judge as to how it is applied. He said that any attorney who is willing to try hard enough should be able to get someone who is below the median income a chapter 7... as long as there's not something else that screams "abuse" like fraud or something like that.

    I even gave him my $2000/month scenerio and he said that he still wouldn't say that he couldn't get a chapter 7. He also said that many judges and trustees are pretty much following what they're used to (meaning pre 10/17) guidelines... or if you have $100/month, they're going to try to push you to chapter 13.

    So, what does all this mean? It means that you REALLY need to stick up for yourself and not let your attorney just roll over and play dead. The minimum you should be able to do if you have a trustee trying to force you to a chapter 13 when you're below the median income, is to force the trustee to come up with a rational explanation of why your situation is an abuse of the chapter 7 code... and his explanation should not have any reference to your disposable income.

    I am not an attorney (obviously) and this is my understanding from a 2 hour conversation with MY attorney here in New Jersey... your mileage may vary, talk to your attorney, print out the relevent sections of the code and if they still say you have to go to a 13... ask them to explain to you WHY those sections of the code are not relevant.

    You're going to have a lot of attorneys who are going to just want to go the easy route and do what they always did... file a chapter 13 if the disposable income is $100/month or more. Don't let 'em be lazy. make them work for their fee.

    Good luck!
    Last edited by LostOne0069; 04-09-2006, 09:03 AM.
    Filed Ch. 7 Pro-Se: 10/12/06
    341: 11/6/06 (went AMAZINGLY well!)
    Discharge: 1/12/07
    Closed:1/19/07

    #2
    Thanks for the info................
    Minny

    "It's amazing the paths that our feet sometimes follow in life".

    My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

    Comment


      #3
      Like you said you were told, it's Judge by Judge and Court by Court at this point.

      And our attny said in the Court here, the Judge is pushing the $6000, $100/month payback level. Even for people below the Median in income.

      That confirms what another attny here told us in Consult. He said, and I can't count the times, "It all comes down to I and J. I and J decide it all."

      Keep in mind, our BK Court is an extension office of the main BK Court. So maybe things are being handled here a bit rogue fashion??!! I don't know. We shall see I guess.

      There's no turning back now. We're so far behind on payments at this point. And the house is on the brink of Foreclosure, that it doesn't really matter what happens BK wise. We'll have to accept it.

      I did like that you quoted the code on that one part,...........

      707(b)(7) No judge, United States trustee, panel trustee, bankruptcy administrator or other party in interest may bring a motion under paragraph (2), if the current monthly income of the debtor and the debtor's spouse combined, as fo the date of the order for relief when multiplied by 12, is equal to or less than -- (the median income for your state for the size family you have)

      Our attny is going to include Son's and Mom's income in our petitions. Mom's income is SSI, and therefore exempt. So it's "added up top and then deducted out later." to quote the attny. But son's income is being treated differently. The attny is talking like he HAS to add it to ours even tho son doesn't contribute to the household in any way. He buys his gasoline to get to college and work, buys his lunches when he has to eat out, and the rest gets saved for tuition the next semester or spent on school stuff. Yet the Code specifically reads "the debtor and the debtor's spouse" as quoted above.

      Ugh!! I'll be glad when this is all settled.
      Filed Ch 7 - 09/06
      Discharged - 12/2006
      Officially Declared No Asset - 03/2007
      Closed - 04/2007

      I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

      Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

      Comment


        #4
        Is your attorney going to even TRY for a chapter 7? Or are they just saying you have to do a 13?

        If they do try a 7... and the judge files a motion to dismiss or convert... they will have to say which part of the code they're objecting under. If they use the 707(b)(2) section, I would think that your attorney could go right back and ask the judge why the 707(b)(7) section does not apply.

        Good luck!
        Filed Ch. 7 Pro-Se: 10/12/06
        341: 11/6/06 (went AMAZINGLY well!)
        Discharge: 1/12/07
        Closed:1/19/07

        Comment


          #5
          This is my favorite post ever, finally an analysis I can really get behind.
          Filed..................03/31/06
          341 Meeting............05/10/06
          Discharge..............07/17/06
          Case Closed............07/17/06

          Comment


            #6
            Originally posted by LostOne0069
            Is your attorney going to even TRY for a chapter 7? Or are they just saying you have to do a 13?

            If they do try a 7... and the judge files a motion to dismiss or convert... they will have to say which part of the code they're objecting under. If they use the 707(b)(2) section, I would think that your attorney could go right back and ask the judge why the 707(b)(7) section does not apply.

            Good luck!
            He's hoping for a 7. He said, "A 7 is the ideal outcome. That's what we're hoping for, but we'll have to see."

            Even tho the attny asked about son's income, it was a verbal thing. We didn't provide pay stubs, or bank acct statements or anything. So any amount he has is an unofficial amount at best.

            And of course, the longer we go this year, the more money son makes. He worked 5 months last year and made about $3K. He got a pay raise, so he's already made in 3 months what took him 5 months to make last year. UGH!!
            Filed Ch 7 - 09/06
            Discharged - 12/2006
            Officially Declared No Asset - 03/2007
            Closed - 04/2007

            I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

            Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

            Comment


              #7
              Okay, I've read that section myself over and over again a few weeks ago.

              But even if it proves you "pass" the means test, basically I feel like it only proves you're not a fraud--not that you qualify for Chap 7.

              To me, I always thought there should be a 2-step screening process to see if bk is an option:

              1) The Means Test
              2) Some type of homestead exemption test (aka equity in home)

              When I first tried to go to a lawyer, I wound up talking to their paralegal for the consult (not what I was told up front) and then they brought in some wacky debt consolidation guys that was really freaky and I left.

              She said I had no problems with the means test, but then said I had to have too much equity in my house. She would not believe that houses in my area are actually going for less than the appraised value and she wasn't subtracting my HELOC and liens.
              *** THIS IS NOT LEGAL ADVICE--ONLY A LAWYER CAN PROVIDE THAT. ***

              My posts represent hours of research on and off the web, these forums, my experience, and my opinions.

              Comment


                #8
                Well, the sections I mentioned specifically are addressing the situation of whether or not you can file under the chapter 7 code. Specifically it talks about the presumption of abuse. "presumption of abuse" does NOT equal fraud. "presumption of abuse" just means that the court feels that to give you a bankruptcy discharge under the chapter 7 code wouldn't be fair.

                That paralegal, IMHO, sucked. Home equity loans and liens HAVE to be taken into account in a bk as they are priority debt. As for believing hoses are selling for less than appraised value... You could probably more successfully argue that if you showed up with 4 or 5 "market analysis" from different realtors. These analysis include "comparables" just like an appraisal and would show several houses in your area and their selling price. May still not work if the rules say "use appraised value" but it would be worth a try.

                This person sounds just like the first attorney I spoke with... didn't look at ANY of my data... just asked how much I made and said, "5 year chapter 13 with $500-$750/month payments... just for unsecured debt, this wouldn't include anything for secured debt."
                Filed Ch. 7 Pro-Se: 10/12/06
                341: 11/6/06 (went AMAZINGLY well!)
                Discharge: 1/12/07
                Closed:1/19/07

                Comment


                  #9
                  Originally posted by LostOne0069
                  That paralegal, IMHO, sucked. Home equity loans and liens HAVE to be taken into account in a bk as they are priority debt. As for believing hoses are selling for less than appraised value... You could probably more successfully argue that if you showed up with 4 or 5 "market analysis" from different realtors. These analysis include "comparables" just like an appraisal and would show several houses in your area and their selling price. May still not work if the rules say "use appraised value" but it would be worth a try.
                  I own a townhouse, so I can really give you the prices of identical units, their appraisal values, and their sale values for the last 6 years. I researched it all (all that info was publically available on the web). I broke it down between end units vs middle units; unfinished vs finished basement; 2 bedroom vs added 3 bedroom. On average, all the ones sold in the past 2 years were 91% of appraised value and I had about 15 townhouses to deduce that information from and 7 of those are sold within the last year.

                  The one argument they could have is that they could compare the townhouses that are being built now (mine was built in 1998) which are $15 K higher. They increased the square footage, added another bedroom, are finishing the basements, and some even have 3 car garages.
                  *** THIS IS NOT LEGAL ADVICE--ONLY A LAWYER CAN PROVIDE THAT. ***

                  My posts represent hours of research on and off the web, these forums, my experience, and my opinions.

                  Comment


                    #10
                    I don't doubt you did your homework and that you're right in what houses are selling for... I'm only saying that an attorney and more importantly a judge isn't going to take your word for it and also isn't going to look it up themselves.

                    Thus why I suggest getting some realtors in there to give you "official" documents to this data. Thus it's not YOUR data, it's an "independent" review from a "professional" (I would reccomend getting several). This carries more weight than any data YOU present because YOU are not a "disinterested party".

                    Good luck!
                    Filed Ch. 7 Pro-Se: 10/12/06
                    341: 11/6/06 (went AMAZINGLY well!)
                    Discharge: 1/12/07
                    Closed:1/19/07

                    Comment


                      #11
                      I actually did have 2 realtors do it and they didn't even pull the townhouse data. They pulled houses (not townhomes) in the area and that actually put the value of my house down another $10K under the appraised value. I did the research myself since I wanted to compare apples to apples. LOL
                      *** THIS IS NOT LEGAL ADVICE--ONLY A LAWYER CAN PROVIDE THAT. ***

                      My posts represent hours of research on and off the web, these forums, my experience, and my opinions.

                      Comment


                        #12
                        Originally posted by LostOne0069
                        I don't doubt you did your homework and that you're right in what houses are selling for... I'm only saying that an attorney and more importantly a judge isn't going to take your word for it and also isn't going to look it up themselves.

                        Thus why I suggest getting some realtors in there to give you "official" documents to this data. Thus it's not YOUR data, it's an "independent" review from a "professional" (I would reccomend getting several). This carries more weight than any data YOU present because YOU are not a "disinterested party".

                        Good luck!
                        Someone else here recently ran into a similar problem where the Trustee thought the person's house was worth $70K more than she and her attny valued it at. Based on several Realtors Comps.

                        Do yourself a favor. Hire an appraiser and pay for a professional appraisal. Then you have an "official" word with certification backing behind it to go along with your comps and the CMA's performed by realtors.
                        Filed Ch 7 - 09/06
                        Discharged - 12/2006
                        Officially Declared No Asset - 03/2007
                        Closed - 04/2007

                        I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

                        Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

                        Comment


                          #13
                          I very much appreciate your advice; however, I'm having enough trouble coming up with money for a lawyer and appraisals around here are about $300. I don't know how I'm ever going to survive this.
                          *** THIS IS NOT LEGAL ADVICE--ONLY A LAWYER CAN PROVIDE THAT. ***

                          My posts represent hours of research on and off the web, these forums, my experience, and my opinions.

                          Comment

                          bottom Ad Widget

                          Collapse
                          Working...
                          X