Learn About the Means Test
Learn About the Means Test
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Bankruptcy Chapter 7 Means Test
The Chapter 7 means test looks at your income, and in some cases, expenses and debts, to determine whether you could afford to pay back at least some of your debts. If so, you won't be allowed to use Chapter 7.
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What Is Current Monthly Income for the Means Test?
Congress created the “means test” to determine if you qualify to file for Chapter 7 bankruptcy. Whether you qualify for Chapter 7 depends largely on what the means test calculates as your “current monthly income.”
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Can I File for Chapter 7 Bankruptcy If I Am Unemployed?
There is no bar to filing for bankruptcy if you are unemployed. Like all Chapter 7 bankruptcy filers, you'll have to pass the means test in order to file for Chapter 7. The lower your income, the easier it is to pass.
