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.

Struggling to find relevant content? Order a custom essay on
Please reply to the post below.   1-Under the Bankruptcy Cod
Let our experts save you the hassle
Order Now
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
s
Get personalized services with GPA Fix
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
DISCUSSION D SCIENCE 210
GREAT
Customer 452813, June 28th, 2022
Nursing
Thank you for the great job and timely delivery.
Customer 452457, December 18th, 2020
Professions and Applied Sciences
Amazing work!
Customer 452707, May 29th, 2022
Nursing
Always a job well done. I really appreciate the hard work.
Customer 452453, January 4th, 2021
Nursing
Great work! I can tell they put great effort in completing this assignment. Thank you.
Customer 452707, October 14th, 2022
Technology
Excelled job on the paper!
Customer 452885, December 28th, 2022
Social Work and Human Services
Excellent Work!
Customer 452587, November 30th, 2021
Other
great
Customer 452813, June 25th, 2022
Business and administrative studies
Thanks
Customer 452701, August 16th, 2022
Psychology
Good mastery of ABA concepts. Excellent!
Customer 452469, May 14th, 2022
Other
great
Customer 452813, July 5th, 2022
English 101
The paper was late. However, it was excellent quality.
Customer 452561, July 2nd, 2021
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
error: Content is protected !!

Save More. Score Better. Use coupon code SPECIAL for a 15%discount