Discuss the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA") in regards to whether Chapter 7 or Chapter 13 relief is appropriate


The BAPCPA, however, established an objective income test that bankruptcy judges must use to determine a debtor's ability to pay. A debtor with income above his or her state's median income who can pay at least $6,000 over five years ($100 per month) will not usually qualify for Chapter 7 bankruptcy and will instead be forced into Chapter 13.

Business

You might also like to view...

Why is every western coast between 20 and 30 degrees north or south of the equator dry?

A. Western coasts are not dry; it is the interior of continents that becomes arid desert. B. This is coincidental. Egypt, which has a source of water, can support a large population. C. The winds blow away from the land, carrying moisture with them. D. The equator is a tropical area, and the heat leads to evaporation.

Business

Expenditures to satisfy warranty claims affect net income during the period of servicing the warranty

Indicate whether the statement is true or false

Business

Which of the following is a belief held by advocates of the humanist school of ethical thought?

A) Actions can be judged ethically good or bad on the basis of absolute moral principles arrived at by human reason regardless of the consequences of an action. B) One should focus on a general rule that exemplifies net happiness for the whole society. C) Individuals would arrive by reason alone at standards of conduct that ultimately derive from a divine being. D) Whatever applicable rule has been established by political representatives must be followed and should serve as a standard in the evaluation of similar acts.

Business

Describe the steps in the organizational development model.

What will be an ideal response?

Business