Understanding the Chapter 7 Bankruptcy Means Test
The means test is one of the ways used to determine if you are eligible to file bankruptcy under Chapter 7. Many people mistakenly believe that, if you "fail" the means test, you will not be allowed to file for bankruptcy. This is not true. In fact, most people who seek to file under Chapter 7 qualify to do so. Of those that don't, the vast majority of them still qualify to file under Chapter 13.
The thought of going through any test, especially one that could impact your ability to seek debt-relief assistance, often scares people off before they even understand what the test involves. At Walton Legal Services, we provide comprehensive consumer debt-relief services, including helping people with Chapter 7 and Chapter 13 filings. Our Indianapolis means test attorneys can help you navigate this often confusing process.
Walton Legal Services: More than 30 years | More than 30,000 bankruptcies filed
What Does the Chapter 7 Means Test Do?
The Chapter 7 means test measures your income level with other wage earners in Indiana and identifies the level of disposable income you have available. People whose annual income is above the median level for the state are typically required to take the test. If it shows that you make too much money to qualify for Chapter 7, we can help you with the Chapter 13 filing.
We understand what a stressful time this is for you. Having to qualify for bankruptcy when you have a real need for debt relief assistance can be extremely difficult. We will be there with you at every step, explaining the process and letting you know what to expect at every step. It is our commitment to help you find the best debt relief solution available for your case.
Discuss Your Questions With a Columbus Chapter 7 Means Test Attorney
If you are looking for an Indianapolis debt-relief lawyer to help you understand whether you qualify for Chapter 7 bankruptcy, call one of our Indianapolis law offices, call our Columbus, Indiana, office or contact us online. We offer free initial consultations, and we give you detailed up-front information about our fee arrangements, so there will be no surprises.
We are a debt relief agency. We have helped more than 30,000 people file for bankruptcy relief under the Bankruptcy Code.
