Welcome to Showell's Blog Below Showell's picture is his latest blog post on Showell Blades Bankruptcy Law. Updated on Jan 29 2008 @ 9:53 pm. This blog is dedicated to Bankruptcy Law and to Showell's own practice of Bankruptcy Law in Rock Hill, SC, and Charlotte, NC - serving the entire Carolinas area. Showell has practiced bankruptcy law for 20 years and has developed a proficiency in the field. He is the only attorney with offices in the York, Lancaster and Chester County areas whose practice is 100% debtor bankruptcy related. Please leave a comment to a post that interests you. Click "have your say" at the bottom of the post of interest, and you will be provided a space to type a response. This blog also offers the following capabilities: delivery of new posts to your chosen destination (by rss feed), searchability integrated with a slew of articles on bankruptcy written by Showell, trackback capabilities to maintain a content exchange between this blog and others. To learn how to use these technological tools to your advantage, contact our webmaster at webmaster@revenflo.com.

Means Test Budget Standards Changed

On 1/1/08 new IRS collection standards took effect, which means that the numbers used to determine how much a debtor in bankruptcy should be spending on his monthly budget before there is a “presumption of abuse” changed (a presumption of abuse is not a good thing in a chapter 7 because if there is one, then the debtor may not be able to stay in chapter 7; he may have to convert to a chapter 13 payment plan, or dismiss his case entirely),

The new standards can be found at the following site if you want to see how your family budget would measure up:     http://www.irs.gov/individuals/article/0,,id=96543,00.html

There were numerous changes in the types of expenses which are permitted, such as some were lumped in with others (cellphones, for example, are not to be listed separately) and food no longer increases based on a sliding scale based on how much a debtor makes.

(Courtesy of National Association of Consumer Bankruptcy Attorneys)

 

 

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