Supreme Court of the United States on Cars and Means Testing

 The United States Supreme Court has ruled that an owner of a car does not get a car ownership expense allowance under the "means test" required for a consumer Chapter 7 bankruptcy.  This ruling addresses a poorly worded section of the Code but the effect is unfortunate.  A person with an $80 per month car payment now gets a $471 per month allowance.  A person who owns that same car outright gets nothing.  It really doesn't make sense.

A link to another blog with a good article on this is here

The case is Ransom v. FIA Card Services.  Full text PDF here.