Jul/Aug 2005

Means testing is the heart of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). It provides a very detailed formula for determining when abuse arises in the case of an individual debtor with primarily consumer de…

We've all heard the rationale for bankruptcy reform at cocktail parties and around the dinner table: Any deadbeat who runs up his bills can, before he pays up, run away and buy a house in Florida. The creditors can't touch his homestead. Wh…