Can You File Bankruptcy If You Exceed the Median Income Limit?
No matter how dire your financial situation, there is no rule that says you must file for bankruptcy. But if filing is something you choose to do, then the type of bankruptcy you file will be largely determined by what is known as the means test. We’ve gone into the details of the means test… Read More »
What Is the Chapter 7 Means Test?
If you are considering filing Chapter 7 bankruptcy, which discharges debt, you must prove that you don’t have the means to pay back your debt. And you prove that by taking a means test. To be eligible for Chapter 7, you must show that your income is too low (and in some cases your expenses… Read More »