bankruptcy means test

Bankruptcy Means Test

When a person files for bankruptcy, they must fill out certain paperwork to turn in to the courts to be sure that they are eligible. Specifically, if they choose Chapter 7, but they seem to have enough money to pay off their debts, they must take a means test to determine their eligibility. The means test will compare the income and expenses to that of the state’s mean, or average, numbers.
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL