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Cleaning The Mess Of The Means Test: The Need For A Case-By-Case Analysis Of 401(K) Loans In Chapter 7 Bankruptcy Petitions, Luke Welmerink
Cleaning The Mess Of The Means Test: The Need For A Case-By-Case Analysis Of 401(K) Loans In Chapter 7 Bankruptcy Petitions, Luke Welmerink
Golden Gate University Law Review
This Comment examines the relevant case law regarding Chapter 7 petitions and the policy implications of not considering 401(k) loan repayment a necessary expense. Section II provides an overview of the treatment of 401(k) loans in bankruptcy, as well as a more detailed review of means testing and an analysis of Other Necessary Expenses. Section III argues that courts should look to the facts and circumstances surrounding petitions to determine whether 401(k) loan repayments can be deducted as necessary expenses, and that doing so will not affect the ability of courts to properly dismiss abusive petitions under a totality-of-the-circumstances analysis. …
Consumer Bankruptcy Reform: Debtors' Prison Without Bars Or "Just Desserts" For Deadbeats?, Robert J. Landry Iii, Nancy Hisey Mardis
Consumer Bankruptcy Reform: Debtors' Prison Without Bars Or "Just Desserts" For Deadbeats?, Robert J. Landry Iii, Nancy Hisey Mardis
Golden Gate University Law Review
This article provides an overview of current bankruptcy law and filing trends in the United States. It then provides an overview of the major changes to consumer bankruptcy and further analyzes several of the more controversial areas of the new law, placing them in historical context and exploring the possible ramifications of these dramatically sweeping changes. Such changes are illustrated by the journey of hypothetical debtors, Ura and Ima Broke, through the new bankruptcy maze. This illustration shows the complexity and inconsistency of the amended Bankruptcy Code. Examining the reform from the vantage point of hypothetical debtors shows how the …