Do You Pass The Means Test?

Eligibility for bankruptcy is basically determined by analyzing your income, debts and your ability to pay those debts. Some people who file for bankruptcy have a steady, substantial income as well as a particular desire to save certain assets from liquidation. For these people, it is typically more appropriate to file Chapter 13 bankruptcy.

For others, who pass a "means test," Chapter 7 bankruptcy is ideal. Unsecured debts are then discharged, and the entire process is completed in a relatively short period of time.

The Means Test Criteria And Filing For Chapter 7 Bankruptcy

At the Law Office of Ginger C. Cord, PSC., I help people determine whether or not they are eligible to file Chapter 7 bankruptcy in Kentucky. As your bankruptcy attorney, we will begin to analyze your situation based on the following information:

  • Your average monthly income for six months prior to filing vs. the state's median income
  • Whether or not your average income is lower than the state's median
  • Bankruptcy exemptions (certain property and assets)
  • Deductions
  • Disposable income

Find Out Whether You Pass The Means Test

When you make a free initial consultation with my law firm in Lexington, I can help you determine whether you qualify for Chapter 7 bankruptcy. Call 859-963-2073, or reach the firm online, to schedule your no-risk, no-obligation consultation with a lawyer.

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