How is a Bankruptcy Means Test Calculated?

If you are filing for bankruptcy in St. Petersburg, you may have heard of the means test. A state median income is used, in part, to determine if you are eligible to file a Chapter 7 bankruptcy. In fact, they even use a countyBankruptcy Means Test by county income!

If your income is higher than the median income in your state, you may not be eligible to file for a Chapter 7 bankruptcy.

However, determining whether you meet the means test is best left to an experienced bankruptcy attorney because unfortunately many of the means test calculators that you will find online just aren’t valid.

 

Leave a Reply