1 06, 2017

What is the “Means Test”?

By |2017-07-04T13:11:34+00:00June 1st, 2017|Chapter 11 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy|0 Comments

If your income is under median, then you are automatically eligible for chapter 7 based on your income. However, if your income is over median, then it gets a little more complicated. We must satisfy a formula called “the means test.” The means test is a somewhat complicated form, very similar to a tax return, [...]