current monthly income

• Aarp Financial Introduces New Aarp Income Fund; Solid Portfolio Addition for Investors Seeking Current Monthly Income

To: National Desk Contact: Jeanne Murphy Romano of AARP, 978-614-7623 or jromano@aarpfinancial.com

• U.S. Newswire
• October 12, 2006

• Means Testing of Chapter 13 Debtors Is Constitutional

The application of regional means testing to Chapter 13 debtors didn't violate the Constitution's requirement for uniformity in bankruptcy laws, the 6th Circuit has ruled in affirming a dismissal. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 amended Chapter 13 to require a bankruptcy court to means test debtors to determine the availability of funds for unsecured creditors. If a debtor's current monthly income is below the median family income of a similarly sized family in the debtor's state of residence, his "disposable income" is determined by more generous exclusions than if he is above the median.

• Lawyers USA
• June 13, 2008

• Ransom v. FIA Card Services, N. A., 562 U.S. 2011 (2011)

... a debtor to determine his "disposable income"-the amount he has available to reimburse creditorrs-by deducting from his current monthly income "amounts reasonably necessary to be...

• U.S. Supreme Court

• Hamilton v. Lanning, 560 U. S. (2010)

... they pay creditors out of their future income. If the bankruptcy trustee or an unsecured credito... using a mechanical approach, multiplying monthly income by the number of months in the plan and the... respondent’s former employer caused her current monthly income for the six months preceding her Ch...

• U.S. Supreme Court

• Food Distribution Program on Indian Reservations: Income Deductions and Resource Eligibility

This rule proposes to amend regulations for the Food Distribution Program on Indian Reservations (FDPIR). The changes are intended to simplify and improve the administration of and expand access to FDPIR, and promote conformity with the Supplemental Nutrition Assistance Program (SNAP). First, the Department proposes an amendment that would eliminate household resources from consideration when determining FDPIR eligibility. Second, to more closely align FDPIR and SNAP regulations, the Department proposes to expand the current FDPIR income deduction for Medicare Part B Medical Insurance and Part D Prescription Drug Coverage premiums to include other monthly medical expenses in excess of $35 for households with elderly and/or disabled members. This rule also proposes to establish an income...

• Federal Register Nbr. 77 FR 1642, January 11, 2012
• Proposed rules
• Food and Nutrition Service

• U.S. Bankruptcy Court in N.J. Rules No 'Means Test' for Converted Chapter 7 Bankruptcy

A debtor who files for Chapter 13 bankruptcy, and then converts to Chapter 7 due to a change of circumstances, is not required to file a "means test" calculation of monthly income, a U.S. Bankruptcy Court in New Jersey has ruled. The case involved a debtor earning $57,000 annually who filed for Chapter 13 bankruptcy and was ordered to pay $410 per month for 59 months. Two months later she was laid off and requested that her bankruptcy be converted to a Chapter 7 case. She then received a clerk's notice instructing her to file the statement of current monthly income and means test calculation required for cases filed under Chapter 7.

• Lawyers USA
• July 03, 2007

• Changing the System

While economic indicators provide reason for optimism among Russia's citizens, the poor financial state of the national pension system poses a threat to the standards of living of current and future Russian retirees. Without the right kind of reform, these retirees will find themselves with a lower standard of living and increased poverty. Most current retirees live on a basic fixed-income pension provided by the state -- the monthly pension is roughly 2,726 rubles (US$103) per month. Russia's current pension system is undoubtedly fraught with pitfalls and problems, but these problems can be alleviated with government policies that fine-tune pension rules and improve economic regulation. Fundamental pension reform has been a step in the right direction for improving social insurance in ...

• Harvard International Review
• Vol. 29 Nbr. 2, July 2007

• Richard Baud v. Krispen S. Carroll, (6th Cir. 2011)

... application of the "projected disposable income test" imposed by 11U.S.C. . § 1325(b)(1). Under �... periods depending on whether the "current monthly income" (as defined in § 101(10A)) of the...

• Federal Circuits

• State Bankruptcies Up Nearly a Third so Far This Year High Unemployment Leaves Many Struggling

By PAUL GORES Unable to stay current on monthly bills and other debts in the face of lost income and a recession, an increasing number of people in Wisconsin are giving up and declaring bankruptcy.

• The Milwaukee Journal Sentinel
• October 17, 2009

• Bill Would Help Workers Track Likely 401(K) Income

It might increase the amount of money people set aside to pay for their expenses in retirement. Then again, it might have some unintended consequences as well. Workers saving for retirement just might take on more risk than necessary in hopes of making up for not saving enough. What is it? Sens. Jeff Bingaman, D-N.M., Johnny Isakson, R-Ga., and Herb Kohl, D-Wis., introduced a bipartisan bill that would require employers who sponsor 401(k) plans and the like to inform plan participants of the projected monthly income they could expect at retirement based on their current account balance.

• Tribune - Review / Pittsburgh Tribune - Review
• March 22, 2010