chapter 13 – The top local news headlines from Yahoo! News – Yahoo! News
Chapter 13 Bankruptcy Info January 14th, 2010
The top local news headlines from Yahoo! News – Yahoo! News
All contents property of the Gallup Independent. Any duplication or republication requires consent of the Gallup Independent. Full Story;
COTTONWOOD — General Public Road Meeting will be 9 a.m., Jan. 13, at Cottonwood Chapter House. SHEEP SPRINGS — Regular Chapter meeting will be 1 p.m., Jan. 13, at Sheep Springs Chapter. Full Story;
GALLUP — Services are pending for Joe S. Baca Sr., 83. Baca died Saturday, Jan. 9, 2010, in Gallup. He was born July 13, 1926, in Cebolletita. Rollie Mortuary is in charge of arrangements. Full Story;
McKinley County takes tops for DWI arrests
GALLUP — New Mexico State Police based in Gallup made more DWI arrests last year than officers anywhere else in the state, according to statistics released Monday by the New Mexico Department of Public Safety. Full Story;
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All contents property of the Gallup Independent. Any duplication or republication requires consent of the Gallup Independent. Please send the Gallup Independent feedback on this website and the paper in general. Full Story;
TUBA CITY — Government service committee of the 21st Navajo Nation Council, public hearing will be 10 a.m.-5 p.m., Jan. 12, at Grey Hills Academy Culture Room, Tuba City. Topic: Navajo Housing Authority Public Rental and Homeownership issue. Full Story;
MEXICAN SPRINGS — Funeral services for Norman L. Becenti, 56, will be 10 a.m., Tuesday, Jan. 12, at Rollie Mortuary Palm Chapel, Gallup. Marvin Jones will officiate. Burial will be in Lone Pine Cemetery. Visitation will be 3-5 p.m., today, Jan. 11, at Rollie Mortuary. Full Story;
Meetings to plan Council reduction
WINDOW ROCK — President Joe Shirley has scheduled 11 public meetings on the reapportionment plans for a 24-member Navajo Nation Council in an attempt to get a plan in place before this year’s election. Full Story;
No injuries in early morning blaze; hotel was closed
GALLUP — Fire ravaged a west side hotel early Sunday morning, destroying about 75 percent of the structure, officials said. Full Story;
New digital mammogram unit makes testing more effective
GRANTS — Connie Jaramillo said the compression on the old analog mammogram unit at Cibola General Hospital was a painful experience and was very cold to the touch. Full Story;
BAAHAALI — Regular Chapter Meeting will be 1 p.m., Jan. 10, at Baahaali Chapter. GALLUP — Next planning meeting for the 12th Annual Celtic Festival of the Arts and Spirituality will be 1:15 p.m., Jan. 10, at First United Methodist Church, Gallup. Info call Martin 863-6459 or Betsy 863-4512. Full Story;
CALIFORNIA — Funeral services for Anne C. Clark, 85, were 11 a.m., today, Jan. 9, at First Southern Baptist Church, Holbrook. Burial will be in Holbrook Cemetery. Full Story;
Housing Authority receives no response from Sandstone
WINDOW ROCK — Navajo Housing Authority has attempted to contact the management firm of the Sandstone Housing Corp. but has so far been unsuccessful, the head of NHA told her board of directors. Full Story;
State cracks down on bars, reviews DWI prosecutions
GALLUP — Twenty-two people died in McKinley County last year at the hands of drunken drivers. That’s one more alcohol-related death than in Bernalillo County, which hosts nearly nine times the number of residents, according to statistics prepared by the New Mexico Department of Transportation. Full Story;
Veteran state representative entering her 15th session
GALLUP — State legislators representing McKinley County will travel to Santa Fe on Jan. 19 to make some tough decisions to cover the state’s $650 million budget deficit. Full Story;
GALLUP — If you live in McKinley County and your 2 1/2 through 4 year old child is not in school, and is having difficulty speaking or doing motor tasks, call to make an appointment to bring your child in for developmental screening in speech, language, fine and gross motor on Jan. 13 or Fen. 10. Contact Irene at 721-1860 for an appointment. Full Story;
TWIN LAKES — Funeral services are pending for Edison A. Joe, 72. Joe died Wednesday, Jan. 6, 2010, in Gallup. He was born May 10, 1937, in Twin Lakes, into the Red House People Clan for the Towering House People Clan. Full Story;
School calendar set, teachers reach agreement on hours
GALLUP — Ask any teacher and you will get the same answer — teaching is a hard profession that takes a lot of hours, both during and after the school day. Full Story;
Pelotte dies of undisclosed illness, will be buried in Gallup
GALLUP — Donald E. Pelotte, the former bishop of the Roman Catholic Diocese of Gallup, died Thursday morning in a Florida hospital of an undisclosed illness. Full Story;
Tribal official scrutinizes funds taken by Office of the Speaker
WINDOW ROCK — The Navajo Motor Vehicle Board only authorized $289,912 to the Election Administration to fund the special election and not the $444,315.71 taken by the Office of the Speaker, a tribal official said recently. Full Story;
Speedway Towing employees Kevin Chavez and Frank Hernandez work on towing a Fed Ex trailer that overturned on Thursday morning near Fire Rock Casino. Full Story;
WINDOW ROCK — Navajo Nation Board of Education regular meeting will be 10 a.m., Jan. 8, at Department of Dine Education, Sunrise Board Room, Window Rock. Info call Linda Yazzie 928-871-6995/7475. Full Story;
GRANTS — Funeral services for Antonio Madrid Garcia, 68, will be 2 p.m., Friday, Jan. 8, at Compassion Mortuary. The Rev. Louie Martinez will officiate. Burial will be 1 p.m., Saturday, Jan. 9, at Ojo Sarcos Cemetery, Ojo Sarcos. Full Story;
Poor controls may have cost Navajo Nation $14 million
WINDOW ROCK — Twenty years after appropriating $21 million into the Business and Industrial Development Fund to stimulate economic development, the fund has a viable asset of about $27 million, a loan delinquency rate of 60 percent, and a stack of loans worth millions of dollars that can’t be collected because the statute of limitations has run out. Full Story;
Lights reflect off the BYD E6 electric car during the preview of the 2010 North American International Auto Show in Detroit. AFP/Stan
Honda
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The basic qualifications to file bankruptcy again remain the same. U.S. citizens, army personnel serving over seas, and any person who owns property or does business within the U.S. may file bankruptcy. Chapter 7 imposes additional restrictions based on a previous case. You cannot re-file Chapter 7 within eight years of a prior Chapter 7 discharge, or within six years of a prior Chapter 13 discharge (unless unsecured creditors received at least 70% of their total debt), or if a prior case was dismissed with prejudice within the last 180 days.
The means test poses the greatest hurdle if filing Chapter 7 again, and determines the amount of the monthly payment owed to a Chapter 13 trustee.
The means test became effective in late 2005. Since that time, all people who file bankruptcy under either Chapter 7 or Chapter 13 must take the test. In theory, the test measures monthly disposable income for each debtor. The calculation starts with total income, subtracts expenses, to find disposable income (Accountants call this discretionary income). If filing jointly with a spouse, total household income, less allowed monthly expenses, determines disposable income.
Importantly, disposable income is a far different measure under the U.S. Code than the common understanding of discretionary income. In the later case, expenses include all basic necessities based the current cost of goods. This basic concept is absent in the U.S. Code definition of disposable income.
The test imposes national standard allowances and local standard allowances for the majority of allowed expenses used in the test. Debtors may not deduct any expense unless specifically authorized. Further, as a rule, necessities, the actual cost of living, actual cost of goods, and historical expenses of each debtor are irrelevant.
In a few important expense categories however, the test does permits debtors to deduct actual expenses. Additionally, debtors may also petition the court for a 5% increase in a few standard allowances for good cause shown.
The test uses monthly disposable in a three-pronged test. First, if the debtor(s) earns more than their state median income, Chapter 7 is not available unless qualifying under two exceptions. These exceptions apply in limited circumstances when the means test measure of disposable income is less than $200.
Taking the test the first time is frustrating for most people. The mandatory allowed budget is not adequate in many situations. Yet many opportunities exist to change results, and even improve results substantially over time.
The test relies on income and expenses over last full six months. Each month, test results change. The oldest month disappears and latest month becomes part the test. Over six months, the test result is entirely new.
Small changes in lifestyle may qualify a debtor to file Chapter 7. Debtors who become acquainted with the test and a few advanced bankruptcy strategies may swing the test result dramatically. To swing the test in your favor, you must know how to calculate income, the expenses used in the test, and the expenses that remain irrelevant. When taking the test, time and knowledge combine into the power to exert great influence over next five years of your life.
If you pass the test, you may discharge all debt in as little as four months and receive a final order closing the case. If you fail the test, you must repay at least a portion of all debts and live on a mandatory budget under court supervision for the next five years.
Clark is a lawyer who enjoys bankruptcy strategies questions. This article is for a client who asked, “Can I file Chapter 7 second time?” & “Does bankruptcy eliminate judgments?”
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