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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » What is the means test? – Provo Bankruptcy Lawyers

What is the means test? – Provo Bankruptcy Lawyers


Bankruptcy Lawyers Provo Utah. Visit www.provoutahbankruptcylawyers.com or call us at (801) 701-2030 for more information about filing bankruptcy in Provo, UT. In this video, Corey discusses what is a means test. For more bankruptcy help, visit www.provoutahbankruptcylawyers.com Provo Bankruptcy Questions and Answers What is the “means test” in bankruptcy? If you’re thinking about a bankruptcy, one of the most common questions that people have is “what’s this ‘means test’ that I keep hearing about?” or maybe this is the first time you’ve heard of it. So let me just tell you, what it is is the average income in the area that you’re in. And it’s usually not broken down by state necessarily, sometimes it’s broken down by county. So they take the average income and wherever you fall determines whether or not you can file for a Chapter 7 or whether they’re going to require you to file a Chapter 13 which would mean that you’d have to pay back some undetermined portion or those debts that you were going to try and discharge in a Chapter 7. So it’s really important that you go get a consultation so that you understand where you fall as far as a means test is concerned. It’s just the average income in the area and where you fall, whether you’ve above it or below it.

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