Helping You Understand If You Qualify For Bankruptcy

What is the means test? People investigating bankruptcy quickly learn the term means test. The means test is used to determine a person’s relative ability to repay debts and whether that person is eligible for filing Chapter 7 or Chapter 13 bankruptcy.

The means test numbers are established by the Department of Justice using census data of the median income for family sizes in an individual state.

If you are contemplating bankruptcy, you probably have questions about whether you should file for Chapter 7 or Chapter 13. At Miller & Miller Law, LLC, in Milwaukee, we can help you make this important determination by evaluating your individual income through a means test. Call our office today at 414-250-7880 to find out your options.

Do I Qualify For Chapter 7 Under The Bankruptcy Means Test?

Since the 2005 bankruptcy reform, many people facing financial crisis have wondered whether or not they still qualify for Chapter 7 bankruptcy filing. While it is true that the laws have made it a bit more difficult, Chapter 7 is still a very available option. In fact, the vast majority of cases will qualify.

Determining if you can file for Chapter 7 is based upon a means test. Essentially, if you earn enough income to pay back a percentage of your debt and still survive financially, you should file for Chapter 13. But for many who file, their income is not of a level where Chapter 13 is even feasible. Do not worry. There are other options.

What Are My Alternatives?

Our firm will help you gather the information you need to accurately complete the means test. If you qualify for Chapter 7, we will guide you through the filing process and provide the credit counseling you need to get back on track.

If you do not qualify for Chapter 7, we can work with you to develop a repayment plan to present in bankruptcy court. If your income is at a level where you can pay back the debt over time, we can help you explore alternatives to bankruptcy.

Contact Our Milwaukee Area Lawyers

Discover the difference a local attorney can make in handling your bankruptcy and debt relief issues. Contact Miller & Miller Law, LLC, online today to schedule a free initial consultation to discuss the means test. Our family looks forward to helping your family. You can also reach our office by calling us directly at 414-250-7880.

We serve all of Wisconsin from our offices in Milwaukee, Madison and Kenosha.

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