(image from hikojune.xanga.com website) The means test was made law in 2005, at the behest of the creditor lobby to stop abusive bankruptcy filings, which were supposedly costing the average American family $400 per year.. An obtuse formula is used to weed out those who supposedly can afford to pay something to their…
More economic bad news means more Detroit MI bankruptcy filings, and more chapter 7 and chapter 13 bankruptcy filings almost everywhere. Home sales continue to plunge. Government programs have failed to stem the tide of foreclosures, which will only go up as “Home Loans Going Bad Faster Than They’re Being Helped” as the title of…
