New $2.2 trillion coronavirus relief law makes modest but potentially important temporary changes to both Chapter 7 and Chapter 13 law. If you’re thinking about filing a Chapter 7 “straight bankruptcy” case, the new CARES law may help, at least slightly. If instead you’re thinking about a Chapter 13 “adjustment of debts” case, the new law helps in more … Read More
Most people easily pass the means test based on their relatively low income. Timing plays a huge role in calculating your income.
There are two military-related exemptions from the Chapter 7 means test. They are narrow but if you qualify it can be a major advantage.
You have to pass the means test to qualify for a Chapter 7 case. It’s often an easy test to pass but one with some crucial twists and turns.