Please reply to the post below.   1-Under the Bankruptcy Cod

Please reply to the post below.   1-Under the Bankruptcy Code after the reform act, what must Janet do before filing a petition for relief under Chapter 7? Before the application for chapter 7 bankruptcy, Janet has to receive credit counseling. Janet will need to show proof that she got counseling from an approved nonprofit agency. Credit counseling should be done within 180 days before the application of voluntary bankruptcy (Miller, 2018). 2-How much time does Janet have after filing the bankruptcy petition to submit the required schedules? What happens if Janet does not meet the deadline? Jane will have 21 days to submit all the required schedules. If Janet does not meet the deadline she will have to start the process all over again. Jane has to pass some other qualifications as well (Miller, 2018).  3-Assume that Janet files a petition under Chapter 7. Further assume that the median family income in the state in which Janet lives is $49,300. What steps would a court take to determine whether Janet’s petition is presumed to be substantial abuse under the means test? The firsts test is the bankruptcy test where the income of Jane will be compared with the country’s median income. If Jane does not pass the test then she will not be eligible for the application. The means test is meant to determine Jane’s eligibility for government assistance. The test will allow Jane to reduce their monthly income by subtracting the necessary expenses. 4-Suppose the court determines that no presumption of substantial abuse applies in Janet’s case. Nevertheless, the court finds that Janet does have the ability to pay at least a portion of the medical bills out of her disposable income. What would the court likely order in that situation? The test will help in calculating whether Jane has any money that is left with her at the end of the month to pay off the debts after paying off the necessary expenses. If the court finds that Jane is able to pay off the debts then the court should order that Jane is not declared bankrupt and that she does have to pay off all the debts. Debate Individuals and couples should not be forced to pay off debts but should rather be given a chance to file bankruptcy. Most of the people’s income is not sufficient enough to pay off debts and meet their necessities. Subjecting them to paying off the debts will mean diminishing their quality of life to a level where they are not able to meet the basic needs. Unless one is capable of paying debts a chance to apply for voluntary bankruptcy should be granted to them. Under the chapter 7 of the bankruptcy code individuals qualify for the relief on paying loans as long as they pass the means test. References Miller, R. L. (2018). Business Law Today, Comprehensive. Nelson Education.