Some States Anticipate Little BAPCPA Impact

Posted on August 30, 2005 by Kevin Chern Esq.

While bankruptcy filings are up across the country as a result of the looming BAPCPA deadline, some state officials, including some in Tennessee, believe there will be little impact on individuals filing in their states.

Because of the relatively low median income - $35,000 in Tennessee, for example - state officials believe the new stringent Bankruptcy Means Test will leave many petitioners filing under Chapter 7, whereas states with a higher earning threshold will be more likely to see individuals forced to file under Chapter 13.

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