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SUSSMAN
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How to Qualify Under the Means Test
The principal provision of this Congressional enactment was the addition of a “means test” designed to prevent higher income earners from...
3 min read
Decoding the Bankruptcy Means Test
The “means test” is a formula designed to keep filers with higher incomes from filing for Chapter 7 bankruptcy. Only bankruptcy filers with primarily consumer debts, not business debts, need to take the means test. High income filers who fail the means test may use Chapter 13 bankruptcy to repay a portion of their debts, but may not use Chapter 7 bankruptcy to wipe out their debts altogether. However, having to take the Chapter 7 means test doesn’t mean that you must be penni
3 min read
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