When filing a bankruptcy it is very important that a consumer understand the dictates of the “means test”.
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The means test numbers change twice a year.
Each consumer filing for bankruptcy must fill out a document known as the means test. A means test is a summary of all income over the last 6 months. Depending on the family size the outcome of the means test may control whether the consumer can file a chapter 7 bankruptcy or a chapter 13 bankruptcy. The means test has specific amounts for a specific family size. The means test numbers change twice a year and may go up or down.
We have several videos on our web site. Below are a few that might be of interest:
- “Chapter 7 Bankruptcy Process”
- “Chapter 13 Bankruptcy Process”
- “Meet Ms. Drain and Suggestions on How to Hire an Attorney”
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