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Tuesday 2 October 2012

The Chapter 7 Means Test


The purpose of the means test is to figure out whether you have enough disposable income to make payments on a Chapter 13 plan. To find out whether you pass the means test, you subtract certain allowed expenses and debt payments from your current monthly income. If the income that's left over after these calculations is below a certain amount, you can file for Chapter 7.
If you're looking for an easy way to determine your eligibility under the means test, use this online means test calculator, created by the applicable income and expense standards for your state, county, and region to determine your eligibility.

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