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What is the Means Test? Can I pass it?

The Means Test is a Clumsy Attempt to Keep Rich People Out of Bankruptcy, Right?

Well yes and no. That means test is a clumsy piece of legislation that is true. It is also true that rich people usually don’t file chapter 7 bankruptcy. It’s not easy to determine whether you can pass the means test; the official form is long and there are about 67 different variables that go into the calculations. It has been my experience, since the means test was made law in 2005, that nearly all of my clients who wish to file chapter 7 bankruptcy pass the means test. You may find means test calculators all over the Internet. The problem is that none of them are accurate.

How We Use the Power of Experience and Technology to Know That Our Clients Will Pass the Chapter Seven Bankruptcy Means Test.

Experience tells me that most people who have incomes near the income limits set by the Chapter 7 means test can pass the Means Test with my analysis and expertise. The law is very complex and it gives credits for some things and takes things away in other ways that aren’t immediately apparent and can’t be put into a simple calculator you might find on a Google search. Reasonable people don’t make major legal decisions based on automated online calculators.

The better way is to come by our office for a free consultation at no cost to you. It takes very little time and in less than 30 minutes you can have a real bankruptcy lawyer make the calculations and assessments to let you know that you can pass the means test. I’ve even surprised myself after completing the calculations and found that someone that I initially thought would not pass actually passed with room to spare.

So give us a call or come on in. I will be glad to talk to you and answer your questions so that you can know whether you’ll pass the means test and can make bankruptcy protection planning decisions based on information and not speculation.