Yes, we will have a means test calculator! We have made a PDF version of the Means Test Form which is available for download today! The final version of the Means Test Calculator will be incorporated into the software with all the calculations necessary to complete the form for your client.

Starting October 17 the majority of all consumer bankruptcy cases are required to file a detailed form outlining information about the debtor’s income over a 6 month period of time, monthly expenses, secured priority debts and more. Our Means Test Calculator is a tool that will automatically calculate the formulas for the income and expenses based on the state and federal formulas and guidelines. This tool is extremely useful for attorney to quickly and simply determine whether their client falls under the new guidelines to file a Chapter 7 or will need to proceed with a Chapter 13. The automatic calculations of this means test will allow you to provide your client with the best available options to quickly proceed under the laws of the new Reform Act.

Forms 22A Statement of Current Monthly Income and Means Test Calculation (for Chapter 7) and 22C Statement of Current Monthly Income and Calculation of Commitment Period and Disposable Income (Chapter 13) have been revised to show separate IRS allowances for Housing/Utilities and Mortgage/Rent. A Housing and Utilities Adjustment line has also been added for adjustments under special circumstances.

Split housing allowances will soon be available: The IRS Local standards for housing and utilities contain one amount to cover all housing expenses, and that amount is determined by the individual's county and family size. But for the purposes of bankruptcy, the IRS will separate these amounts into a non-mortgage component for utilities, repairs, and maintenance, and a mortgage/rent component. These split housing allowances are not yet available, but will be released by the Office of the U.S. Trustee by October 12.

For more information on these changes view the revisions to interim bankruptcy rules and official forms released by The U.S. Courts on October 5, 2005.

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WHAT CHANGES HAVE BEEN MADE TO THE BANKRUPTCY SOFTWARE TO ACCOUNT FOR THE NEW REFORM ACT OF 2005 CHANGES

National LawForms has provided a summary of the effect Bankruptcy Reform Act will have on the filing documents necessary as of October 17, 2005. We realize that the form changes required are only the “tip of the iceberg” in comparison to the requirements attorneys and their clients will be expected to complete.

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HOW DO I RECEIVE MY UPDATE?

If you are a current user of the software and have purchased within the last year or your have renewed your subscription update within the last year click here for more information on the steps you will need to take to receive your update.

If you would like to purchase the software and take advantage of the Special Pre-Release Offer click here then click on the order button at the top of the page.

If you are a current customer and have let your technical support and update contract expired please call our sales department at 877-543-6767 regarding your renewal options.

National LawForms recommends that you have a high speed internet connection available prior to purchasing your update. Due to the size of the download and the size and frequency of the updates a high speed internet connection will be necessary to ensure a proper and complete download properly.

IMPORTANT NOTE: Due to the frequent changes by the courts that will be taking place as this new law becomes enacted it is recommended that your Update and Technical Support Subscription is kept up to date. Technical Support and updates will not be available to any customers who have let their subscription lapse.

A new page (The Statistical Summary of Certain Liabilities) has been added to the Summary of Schedules. This page totals various debts from Schedules E and F that will be used for statistical purposes by 28 U.S.C. 159. These debts include: Domestic Support Obligations, Taxes and Certain other Debts owed to Governmental Units, Claims for Death or Personal Injury While Debtor was Intoxicated, Student Loan Obligations, Domestic Support, Separation Agreement , and Divorce Decree Obligations not reported on Schedule E, and Obligations to Pension or Profit-Sharing and other Similar Obligations.

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SCHEDULE B

Two new property types have been added:

1. #11 – Interests in an education IRA.
2. #24 Customer lists or other compilations containing personally identifiable information.

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Schedule C

A new check box has been added to Schedule C for a homestead exemption that exceeds $125,000.

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SCHEDULE E

Alimony, Maintainer and Support has been changed to Domestic Support Obligations and is now the first priority for the unsecured priority creditors. A new check box and priority type has been added to include “Claims for Death or Personal Injury While Debtor was intoxicated. (Both of these subtotals are automatically transferred to the Summary of Schedules.)

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SCHEDULE F

No major changes have been made to Schedule F.

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SCHEDULE G

This Schedule has been amended to include the minor changes made by the Reform Act. These changes are mainly wording changes on the document.

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STATEMENT OF FINANCIAL AFFAIRS - FORM 7

Question #3 (Payments to Creditors in the last 90 days) has been changed to reflect 3 separate data entry parts. Section A is for debtors whose debts are primarily consumer debts, Section B is for Debtors whose debts are not primarily consumer debts, and Section C for payments to insiders.

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CHAPTER 7 INDIVIDUAL DEBTOR'S STATEMENT OF INTENTION - FORM 8

The Statement of intention has a new section to list assumed leases.

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FORM 3B: APPLICATION FOR WAIVER OF THE CHAPTER 7 FILING FEE

If a Chapter 7 Debtor has income less that 150% of the official poverty line (Defined by the Department of Health and Human Services), the court may waive the filing fee. This is a separate form to be filed with the court. The court will then determine if a waiver should be granted.

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FORM 19B: NOTICE TO DEBTOR BY NON-ATTORNEY BANKRUPTCY PETITION PREPARER

This form is to be prepared by the Non-Attorney Bankruptcy Petition Preparer and given to the debtor. The notice provides that the preparer is not an attorney and provides examples of advice that the petition preparer is forbidden to give a debtor.

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FORM 22A: STATEMENT OF CURRENT MONTHLY INCOME AND MEANS TEST CALCULATION

This form must be filed for every Chapter 7 Case. Our software will include an automatic Means Test calculator.

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FORM 22B: STATEMENT OF CURRENT MONTHLY INCOME (CHAPTER 11)

This form is currently being revised by the Standing Rules Committee and Executive Committee on behalf of the Judicial Conference. As soon as the changes become available we will update this form accordingly and make it available in the software.

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FORM 22C: STATEMENT OF CURRENT MONTHLY INCOME (CHAPTER 13)

This form is currently being revised by the Standing Rules Committee and Executive Committee on behalf of the Judicial Conference. As soon as the changes become available we will update this form accordingly and make it available in the software.

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FORM 23: DEBTOR'S CERTIFICATION OF COMPLETION OF INSTRUCTIONAL COURSE CONCERNING PERSONAL FINANCIAL MANAGEMENT

This form must be filed to satisfy the requirement of the Bankruptcy Reform Act. This document is a statement to inform the clerk that the course has been completed.