The “means test” looks at the debtor’s income and expenses to see if they can repay their debts. If the debtor’s income is below the median income for their state, they will automatically qualify for Chapter 7 bankruptcy. If the debtor’s income exceeds the median, they must complete...
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Income must be <= 80% of the county Area Median Income (AMI) adjusted for family size, as published by HUD. Eligible Use of Funds: Down payment, closing costs, and pre-paids for the purchase of a Primary unit. Funds cannot be used to buy down the rate. ...
In his most recent financial filing in the bankruptcy case, he said he had about $94,000 in cash at the end of May and his company, Guiliani Communications, had about $237,000 in the bank. He has been drawing down on a retirement account, worth nearly $2.5 million in 2022. It had ...
run Florida into the ground. Most people who work in Tallahassee are still saying this today. We have watched the opposite happen. Florida is flourishing under citizen-led government while states with career politicians — and Congress — pile up mountains of red ink and careen toward bankruptcy...
Khristopher J. Brooks Khristopher J. Brooks is a reporter for CBS MoneyWatch. He previously worked as a reporter for the Omaha World-Herald, Newsday and the Florida Times-Union. His reporting primarily focuses on the U.S. housing market, the business of sports and bankruptcy. Twitter ...