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The Means Test And Chapter 7 Bankruptcy

The abundance of free how-to online information makes us think it is possible to do anything ourselves; and for many simple tasks, it is possible to watch a short video and be able to perform the tasks.

The bankruptcy means test is not one of those tasks.

Why Is The Means Test So Complicated?

Under the bankruptcy laws enacted in 2005, in order to file for Chapter 7 bankruptcy, you must first pass a means test.

The test is a set of three formulas that determines if your income is low enough to qualify for Chapter 7. The means test basically is a snapshot of the last six months of your financial life, then projecting your finances into the future.

I routinely meet with prospective clients who have spent time online and cannot figure out how to calculate the means test to save their lives. The means test requires a lot of details, including expenses, pay stubs and IRS tables. Attempting to do it themselves is extremely frustrating.

Do not be discouraged. I have assisted many clients in filing for Chapter 7 even after other lawyers told them they did not qualify. If you are unable to pass the means test, I can still help you obtain significant debt relief by filing for Chapter 13 bankruptcy.

Let Me Help You With The Means Test

With more than 30 years of bankruptcy law experience and thousands of hours computing the means test, I can determine if you are eligible for Chapter 7 bankruptcy.

Call me, bankruptcy law attorney Paul R. Idlas in Grayslake, Illinois, at 847-986-8862, or contact me online. I serve Lake County and the surrounding area.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.