Texas Statement of Exemption from Presumption of Abuse Under 707(b)(2)
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How to fill out Texas Statement Of Exemption From Presumption Of Abuse Under 707(b)(2)?
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FAQ
The presumption of abuse is intended to prevent people who can afford to pay off some of their debts from using the Chapter 7 bankruptcy process. A presumption of abuse exists if you fail to pass either part of the Chapter 7 means test and special circumstances or exceptions don't apply to your situation.
The presumption of abuse does not arise. Or The presumption of abuse arises. Or Insufficient information has been filed to date to permit the clerk to make any determination concerning the presumption of abuse. If more complete information, when filed, shows that the presumption has arisen, creditors will be notified.
Under 11 U.S.C. §707(b)(3) of the BAPCPA, dismissal is warranted based upon ?abuse,? including in cases where the totality of the circumstances indicates the debtor has the ability to repay a substantial portion of his or her unsecured debt. That a chapter 7 case may be dismissed for ?abuse? under 11 U.S.C.
Rebutting the Presumption of Abuse By failing the Chapter 7 means test a debtor is presumed to be making too much money and attempting to perpetrate a fraud upon the bankruptcy court. However, a debtor's bankruptcy attorney may be able to help the debtor ?rebut? this presumption.
11 U.S.C. Section 707(b)(2)(A)(I) requires the Court to presume that a debtor's chapter 7 filing is abusive ?if the debtor's current monthly income reduced by amounts determined under clauses (i), (ii), (iii), and (iv) of 11 U.S.C.