2016 Southeast Bankruptcy Conference, 2012

Means Test: Chapter 7 and Chapter 13 Form B22 Analysis

This panel will discuss recent developments in means test issues, including what constitutes current monthly income, defining household size, secured payments on collateral to be surrendered, and disposable monthly income and applicable commitment period for chapter 13 debtors.

This panel will discuss domestic support obligation (DSO) and alimony/property settlement dischargability issues. When does the automatic stay apply and not apply? Should a bankruptcy be considered before, during or after the divorce? What about exemptions? In addition, the panel will discuss the threshold amount that a trustee is likely to pursue, as well as locating real estate assets and checklists for managing a real estate asset. The panel will also examine procrastination as the greatest enemy of a chapter 7 trustee, and pushing an asset liquidation to closing as quickly as possible.