One must pass a Means Test when seeking to file Chapter 7 bankruptcy. If your income is above a certain level, you may not qualify to file Chapter 7, which can be a shocking realization for many. Chapter 7 is often seen as a fresh start, but not everyone qualifies. Many individuals make a decent […]
Chapter 7 vs. Chapter 13: When Debt Becomes Too Much to Handle Read Post »
Chapter 13 Chapter 7 Debt Means
Illinois, especially regarding the Means Test. This crucial evaluation determines whether you’re eligible for debt relief through Chapter 7 or Chapter 13 bankruptcy.
Beat the Means Test with a Trusted Bankruptcy Lawyer Read Post »
Bankruptcy Chapter 13 Chapter 7 Means
(With Up Dated Numbers as of April 1, 2023) Hire a Bankruptcy lawyer is crucial when thinking about filing bankruptcy. When it comes to the Means Test a lawyer on your side is even more critical. The Means Test is required for individuals filing bankruptcy in Chapter 7 or Chapter 13. Thethe purpose is to
Beat The Means Test Read Post »
Bankruptcy Chapter 13 Chapter 7 Means Video
All individuals have to take a means test before filing a bankruptcy, and if their income, depending on the number of individuals in the family, exceeds a certain amount, the presumption is they cannot file a chapter 7. However, there are multiple deductions that can be taken from the gross income to show that the
Who Must Take The Means Test Prior To Filing A Bankruptcy? Read Post »
Means VideoBankruptcy laws say you must do a Means Test. You must list the gross income in your family for the past six (6) months. Is the total amount below or above the amounts listed in the table below? The number of persons in the household is generally the number on your tax return. But you
Beat The Means Test Read Post »
Bankruptcy Means Video