Welcome To The MN Bankruptcy Blog

Inside you will find over 500 helpful articles discussing the Chapter 7 & 13 Bankruptcy Process and other solutions for difficult financial situations.

 

    How Do You Pass the Bankruptcy Means Test?

    Posted by Madison Newberg on August 4

    The means test is used to determine whether you qualify to file a chapter 7 bankruptcy. This policy ensures that people do not abuse filing a chapter 7 bankruptcy. It also ensures that only those who do not have enough income to pay their creditors can file chapter 7. The calculation used for determining whether your income is below median income is called the means test. To qualify for a chapter 7 bankruptcy your income cannot exceed the median income for your household size. 

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