Recent News

November 3, 2006

Bankruptcy means test workshop

One of the most controversial and complicated additions to the new bankruptcy law is the requirement that every debtor complete a bankruptcy means test before filing bankruptcy. The bankruptcy means test is a complicated mathematical calculation to determine what type of bankruptcy a debtor must file. There are several parts to the bankruptcy means test that must be completed using figures established by the U.S. Census Bureau and the IRS. Debtors and their counsel must provide the calculation and results of the bankruptcy means test to the bankruptcy court as a part of the debtor’s schedule of current income and expenditures.

Consumer bankruptcy practitioners will receive help in the accurate completion of the means test on Friday, Nov. 17 from 1:30 to 4:45 p.m. with a comprehensive, intermediate-level course, “Bankruptcy Means Test Workshop.” Presenters MaryAnne Wilsbacher of the Office of the U. S. Trustee, Columbus; John W. Kennedy of the Office of the Chapter 13 Trustee, Columbus; and attorney Judith M. McInturff will walk practitioners through this complicated calculation.

Practitioners will receive help regarding the timing of filing, the cross-check of financial data, income classifications, application of 707(b)(7) and calculation of CMI, expenses, taxes, future and past due payments on claims, as well as administrative expenses.

Enhance your working knowledge for the means test by registering online at www.cbalaw.org or phoning 614/221.4112 for event # 3654. The cost is $85 prepaid/$95 day of for members, $125 prepaid/$135 day of for non-members and $55 prepaid/$65 day of for paralegals.