Here’s an example showing how the means test can work for you, especially if you file your Chapter 7 case before the end of 2018. The month of December is the month that people receive more income than any other month of the year. According to the federal Bureau of Economic Analysis (part of the U.S. Department of Commerce), for at … Read More
The timing of your Chapter 7 filing–a difference of even just a day or two–can affect whether you qualify for it based on your income.
You can have more income for the purpose of passing the means test as your household size increases. But what IS your household’s size?
You only have to pass the means test if you have “primarily consumer debts.” If you have more business debts, skip the means test.
You must use the right “state in which you live” to qualify for Chapter 7. It’s not always obvious.