Bankruptcy Qualification Determination

To qualify for a Chapter 7 Bankruptcy, you must past the “means test.”

To determine whether one passes the means test, and therefore qualifies for a Chapter 7, their household income must first be calculated. To calculate, you must take the previous 6 full months household  income, and multiply it by 2. (Do I have to include my spouse’s income if they are not filing?) For example, if you were to file November 16th, you would add up your household’s income for May through October, then multiply it by 2. If you were to file December 2nd, you would add up your household’s income for June through November, then multiply it by 2.

Next, you take the amount calculated and see if it is less then the allotted amount for your household size.

Household of 1 – $50,179
Household of 2 – $61,125
Household of 3 – $73,262
Household of 4 – $90,531

*Add $8,400 for each individual in excess of 4.

Do you qualify for bankruptcy? Let us do the leg work.

Give us a call at (616) 920-0555 for information on our $999.00 Flat-Fee Bankruptcy Service where you can get started with only $500.00 down.

We’re debt relief agents. We help people find relief under the Bankruptcy Code.