PRESUMED ABUSE
\pɹɪzjˈuːmd ɐbjˈuːs], \pɹɪzjˈuːmd ɐbjˈuːs], \p_ɹ_ɪ_z_j_ˈuː_m_d ɐ_b_j_ˈuː_s]\
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In a Chapter 7 bankruptcy, when the debtor's current monthly income exceeds the family median income for his or her state and he or she cannot pass the means test, the court will presume that the debtor has sufficient income to fund a Chapter 13 plan. In this situation, the debtor will not be allowed to proceed with a Chapter 7 bankruptcy unless the debtor can prove that he or she is not abusing the Chapter 7 bankruptcy remedy.
By Oddity Software
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.