Bankruptcy
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Chapter 7 Bankruptcy Means Test Median Family Income Levels By State, as of May 15, 2025
Below you will find the median family income levels utilized by the United States Trustee Program for means testing individuals who have filed for bankruptcy relief. Median income information is used in the means test utilized by bankruptcy courts when determining whether or not individuals qualify for relief under chapter 7 of the Bankruptcy Code.…
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Band-Aid, Not a Cure: Medical Debt Banned from Credit Reports
Easing the Burden of a Broken Medical System Millions of Americans burdened by medical debt are about to receive significant financial relief. A new federal rule finalized by the Consumer Financial Protection Bureau (CFPB) will remove and prevent all medical debt from appearing on credit reports, significantly improving credit scores and boosting access to loans…
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Old School Bankruptcy Exemption Gets a Modern Facelift
A Victory for Florida Debtors. There was a recent change to Florida law that benefits the vast majority of individuals filing for bankruptcy protection in Florida. Specifically, the change in law provides a long-overdue increase to the bankruptcy property exemptions that Florida debtors are able to claim. What’s a Bankruptcy Property Exemption? When facing financial…
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Breaking Bad: Bankruptcy Filings Rise 13%
According to the Administrative Office of the U.S. Federal Courts, bankruptcy filings, both personal and business, are on the rise. Bankruptcy filings are reported quarterly, with the most recent quarter being the third straight quarter of increased filings. The entire announcement from the Courts is included, below: Total bankruptcy filings rose 13 percent, and business…
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I surrender. Take my house. Actually, on second thought…
The Second District Court of Appeal issued an October 2019 opinion which bolsters creditors’ rights in the recently-developing interplay of federal bankruptcy law and Florida state foreclosure laws. Specifically, the opinion addressed the effect that a bankruptcy debtor’s surrender of collateral real property has on the debtor’s ability to defend a foreclosure. A Final Summary…