{"id":16820,"date":"2021-12-14T11:15:55","date_gmt":"2021-12-14T17:15:55","guid":{"rendered":"https:\/\/www.lexingtonlaw.com\/blog\/?p=16820"},"modified":"2024-11-13T14:58:47","modified_gmt":"2024-11-13T20:58:47","slug":"bankruptcy-means-test","status":"publish","type":"post","link":"https:\/\/www.lexingtonlaw.com\/blog\/finance\/bankruptcy-means-test.html","title":{"rendered":"Bankruptcy means test: who qualifies for Chapter 7 bankruptcy?"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/bankruptcy-means-test-hero.jpg\" alt=\"Applying for bankruptcy\" class=\"wp-image-16819\" srcset=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/bankruptcy-means-test-hero.jpg 1500w, https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/bankruptcy-means-test-hero-1100x367.jpg 1100w, https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/bankruptcy-means-test-hero-768x256.jpg 768w\" sizes=\"(min-width: 767px) 600px, calc(100vw - 35px)\" \/><\/figure>\n\n\n\n<p><em>The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. <\/em><a href=\"https:\/\/www.lexingtonlaw.com\/disclaimer\" target=\"_blank\" rel=\"noreferrer noopener\"><em>See Lexington Law\u2019s editorial disclosure for more information.<\/em><\/a><\/p>\n\n\n\n<div class=\"quick-answer\">\n<h2>The bankruptcy means test determines who is eligible to file for Chapter 7 bankruptcy.<\/h2>\n<\/div>\n\n\n\n<p>The bankruptcy means test determines who is eligible to file for Chapter 7 bankruptcy. You can think of \u201cmeans\u201d as your household\u2019s financial resources and situation\u2014like income, expenses and alimony, for example.&nbsp;<\/p>\n\n\n\n<p>When filing for bankruptcy, you\u2019ll provide the court with information about your household size, and your income and expenses, usually with the help of an attorney. The court uses a series of calculations to decide whether you have enough income to repay some of your debts, in which case you may need to file a different chapter, if you meet the requirements and limitations of Chapter 11, 12 or 13. The other <a href=\"https:\/\/www.lexingtonlaw.com\/blog\/finance\/what-is-bankruptcy.html\" target=\"_blank\" rel=\"noreferrer noopener\">types of bankruptcies<\/a> are for repayment plans as well as businesses.<\/p>\n\n\n\n<p>There are many <a href=\"https:\/\/www.lexingtonlaw.com\/blog\/life-events\/what-is-the-downside-of-filing-for-bankruptcy.html\" target=\"_blank\" rel=\"noreferrer noopener\">advantages of filing for bankruptcy<\/a>, so it&#8217;s helpful to understand the process beforehand. Read on to learn exactly how the bankruptcy means test works so you have a sense of whether you\u2019ll qualify for Chapter 7.<\/p>\n\n\n\n<div class=\"responsive-youtube\"><iframe width=\"1280\" height=\"720\" src=\"https:\/\/www.youtube.com\/embed\/Q08qeOsiJPc\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen=\"\"><\/iframe><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-do-you-pass-the-bankruptcy-means-test\">How do you pass the bankruptcy means test?<\/h2>\n\n\n\n<p>Passing the means test enables you to file for Chapter 7, but it requires you to share relevant financial information about your income and expenses. The test has two components, and if you pass the first step, you don\u2019t need to continue on to the second step.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1500\" height=\"1202\" src=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/1-what-happens-during-bankruptcy-means-test.png\" alt=\"What does the bankruptcy means test involve?\" class=\"wp-image-16817\" srcset=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/1-what-happens-during-bankruptcy-means-test.png 1500w, https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/1-what-happens-during-bankruptcy-means-test-1100x881.png 1100w, https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/1-what-happens-during-bankruptcy-means-test-768x615.png 768w\" sizes=\"(min-width: 767px) 600px, calc(100vw - 35px)\" \/><\/figure>\n\n\n\n<p>First, the court will compare your income to the median income of your geographic area. If necessary, the court will also look more closely at your income and expenses to determine whether you have disposable income to repay your creditors in part or in full.&nbsp;<\/p>\n\n\n\n<p>Read on to learn more about how these two steps of the bankruptcy means test work.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 1: Comparing your income to the median income<\/h3>\n\n\n\n<p>The first step of the bankruptcy means test is straightforward: if your household income is lower than the median income of your geographic area (and considering the number of people in your household), you\u2019re eligible to file for <a href=\"https:\/\/www.lexingtonlaw.com\/blog\/life-events\/chapter-7-bankruptcy.html\">Chapter 7 bankruptcy<\/a>.\u00a0<\/p>\n\n\n\n<p>You can think of finding the median income as lining up everyone in your geographic area according to income, with the highest earners in the front of the line and the lowest earners in the back. If your income places you in the back half of the line, you pass the bankruptcy means test.<\/p>\n\n\n\n<p>Since the median income is always changing, you\u2019ll need to refer to the <a href=\"https:\/\/www.justice.gov\/ust\/means-testing\/20210515\" target=\"_blank\" rel=\"noreferrer noopener\">Department of Justice\u2019s median income table<\/a>, which is regularly updated. Note that the median income varies significantly based on how many people are in your family as well as which state or territory you live in.<\/p>\n\n\n\n<p>As long as your total household income is less than the number you find for your area and family size, you qualify. If your income is higher, you may still qualify, but the process becomes a bit more complicated. Read on to learn about the income and expense calculations that the court uses to determine disposable income.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 2: Determining your disposable income<\/h3>\n\n\n\n<p>To determine your disposable income, the court will require you to document your income as well as qualified expenses.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1500\" height=\"739\" src=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/2-chapter-7-qualification.png\" alt=\"How to qualify for chapter 7 bankruptcy\" class=\"wp-image-16818\" srcset=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/2-chapter-7-qualification.png 1500w, https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/2-chapter-7-qualification-1100x542.png 1100w, https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/2-chapter-7-qualification-768x378.png 768w\" sizes=\"(min-width: 767px) 600px, calc(100vw - 35px)\" \/><\/figure>\n\n\n\n<p>Since the Department of Justice sets out <a href=\"https:\/\/www.justice.gov\/ust\/means-testing\" target=\"_blank\" rel=\"noreferrer noopener\">complicated rules<\/a> for what counts as a qualified expense, most people enlist the support of a bankruptcy lawyer to file for Chapter 7, which would include assistance with the means test.&nbsp;<\/p>\n\n\n\n<p>In general, the following categories are expenses that would be subtracted from your income to determine how much disposable income you have:<\/p>\n\n\n\n<ul>\n<li>Food and clothing<\/li>\n\n\n\n<li>Healthcare expenses<\/li>\n\n\n\n<li>Housing and utilities<\/li>\n\n\n\n<li>Transportation<\/li>\n\n\n\n<li>Tax liabilities<\/li>\n\n\n\n<li>Child support<\/li>\n<\/ul>\n\n\n\n<p>However, you may have other qualified expenses, so you\u2019ll likely want to work closely with an attorney to fill out the required documentation for the court. It\u2019s extremely important to fill out these forms fully and honestly, as failure to faithfully report your income and expenses could lead to charges of bankruptcy fraud\u2014including potential fines, jail time or nullification of your bankruptcy discharge.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What forms are needed for the bankruptcy means test?<\/h2>\n\n\n\n<p>There are several forms that you may need to fill out for the bankruptcy means test depending on your income, expenses and other eligibility criteria. One form, a Statement of Exemption, is available for people who may not need to complete the means test, like disabled veterans.&nbsp;<\/p>\n\n\n\n<p>Here are the most common forms required for means testing, all of which are <a href=\"https:\/\/www.uscourts.gov\/forms\/bankruptcy-forms\" target=\"_blank\" rel=\"noreferrer noopener\">available on the United States Courts website<\/a>.<\/p>\n\n\n\n<ul>\n<li><strong>B122A-1: <\/strong><a href=\"https:\/\/www.uscourts.gov\/forms\/means-test-forms\/chapter-7-statement-your-current-monthly-income\" target=\"_blank\" rel=\"noreferrer noopener\">Statement of Current Monthly Income<\/a><\/li>\n\n\n\n<li><strong>B122A-1Supp:<\/strong> <a href=\"https:\/\/www.uscourts.gov\/forms\/means-test-forms\/statement-exemption-presumption-abuse-under-ss707b2\" target=\"_blank\" rel=\"noreferrer noopener\">Statement of Exemption from Presumption of Abuse Under \u00a7 707(b)(2)<\/a><\/li>\n\n\n\n<li><strong>B122A-2: <\/strong><a href=\"https:\/\/www.uscourts.gov\/forms\/means-test-forms\/chapter-7-means-test-calculation\" target=\"_blank\" rel=\"noreferrer noopener\">Chapter 7 Means Test Calculation<\/a><\/li>\n\n\n\n<li><strong>B122C-1: <\/strong><a href=\"https:\/\/www.uscourts.gov\/forms\/means-test-forms\/chapter-13-statement-your-current-monthly-income-and-calculation-commitment\" target=\"_blank\" rel=\"noreferrer noopener\">Statement of Your Current Monthly Income and Calculation of Commitment Period<\/a><\/li>\n\n\n\n<li><strong>B122C-2: <\/strong><a href=\"https:\/\/www.uscourts.gov\/forms\/means-test-forms\/chapter-13-calculation-your-disposable-income\" target=\"_blank\" rel=\"noreferrer noopener\">Chapter 13 Calculation of Your Disposable Income<\/a><\/li>\n<\/ul>\n\n\n\n<p>Collectively, these forms will provide the court a basis for making a determination about whether you qualify for Chapter 7 using the means test.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Common errors with the means test<\/h2>\n\n\n\n<p>As you work to fill out the above forms, rather than trying the <a href=\"https:\/\/www.lexingtonlaw.com\/blog\/life-events\/chapter-7-vs-chapter-13-bankruptcy.html\" target=\"_blank\" rel=\"noreferrer noopener\">do it yourself Chapter 7 route<\/a>, it&#8217;s often recommended that you work with a qualified bankruptcy attorney who can check that you\u2019re documenting your income and expenses correctly. That said, your lawyer will only know as much as you share, so it\u2019s important to be thorough, accurate and truthful as you work through the paperwork.<\/p>\n\n\n\n<p>Still, it\u2019s possible to make mistakes even if you\u2019re aiming for accuracy. Here are some of the most common errors people make when undertaking the bankruptcy means test:<\/p>\n\n\n\n<ul>\n<li><strong>Not considering family size: <\/strong>Your family size and marital status will affect how your income and expenses are considered, so ensure that you take this into account.<\/li>\n\n\n\n<li><strong>Incorrectly adjusting for taxes: <\/strong>While your tax liability counts as a qualified expense in most cases, some people mistakenly count all of their paycheck deductions instead.&nbsp;<\/li>\n\n\n\n<li><strong>Miscalculating expenses: <\/strong>Not all expenses are qualified for the means test, so make sure you exclude expenses determined nonessential by the forms.<\/li>\n\n\n\n<li><strong>Including Social Security: <\/strong>While most income counts for the means test, Social Security and some other forms of government assistance typically don\u2019t, so make sure to omit these.<\/li>\n<\/ul>\n\n\n\n<p>Once you have all of the forms filled out correctly and filed with the court, you\u2019ll know whether you\u2019ll be able to file for Chapter 7 bankruptcy. If you do not qualify for Chapter 7 bankruptcy, you may consider the qualification requirements for Chapter 11, 12 or 13, Each has different rules and limitations. It is possible, in rare circumstances, that you won\u2019t qualify for any bankruptcy chapter.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What happens next?<\/h2>\n\n\n\n<p>Regardless of whether you pass the means test, you\u2019ll have options for proceeding toward filing for bankruptcy.<\/p>\n\n\n\n<ul>\n<li><strong>If you pass: <\/strong>You will have the option to file for Chapter 7, which leads to the immediate discharge of debt without further payment. You can nonetheless opt to file for Chapter 13 instead.<\/li>\n\n\n\n<li><strong>If you fail: <\/strong>You may be able to appeal, but more likely you will only have the option to file for Chapter 11, 12 or 13, which involve their own qualification procedures and limitations. If you do not qualify for Chapter 7, it\u2019s good to see an attorney to look at your other options.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>After filing for bankruptcy and having your debt discharged, you\u2019ll experience relief from your creditors and debts that may have burdened you for many years. However, you\u2019ll also likely face both short- and long-term effects on your credit score.<\/p>\n\n\n\n<p>Your credit report will note the bankruptcy, which can lead to a dramatic decrease in your credit score as well as difficulty securing new credit, as lenders may view you as a significant risk. This notation can remain on your credit report for seven to 10 years, though the effects will diminish over time with good credit behavior like on-time payments and a <a href=\"https:\/\/www.lexingtonlaw.com\/education\/credit-utilization\" target=\"_blank\" rel=\"noreferrer noopener\">lower credit utilization rate.<\/a><\/p>\n\n\n\n<p>As you work to recover your credit, you may benefit from <a href=\"https:\/\/www.lexingtonlaw.com\/credit-repair-services\" target=\"_blank\" rel=\"noreferrer noopener\">working with a credit repair company<\/a>, as they are likely familiar with the effects of bankruptcy and the steps required to rebuild credit after filing for bankruptcy.&nbsp;<\/p>\n\n\n\n<div class=\"responsive-youtube\"><iframe width=\"1280\" height=\"720\" src=\"https:\/\/www.youtube.com\/embed\/RlxsMw7t2QA\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen=\"\"><\/iframe><\/div>\n\n\n\n<p><a href=\"https:\/\/lexingtonlaw.com\/disclaimer\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\"><strong><em>Note:<\/em><\/strong><\/a><em> Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What are the qualifications for Chapter 7 bankruptcy?<\/p>\n","protected":false},"author":63,"featured_media":16819,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[534],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v18.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bankruptcy means test: who qualifies for Chapter 7? | Lexington Law<\/title>\n<meta name=\"description\" content=\"Before filing for Chapter 7 bankruptcy, you\u2019ll need to complete a means test that evaluates your income and expenses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lexingtonlaw.com\/blog\/finance\/bankruptcy-means-test.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bankruptcy means test: who qualifies for Chapter 7 bankruptcy?\" \/>\n<meta property=\"og:description\" content=\"Before filing for Chapter 7 bankruptcy, you\u2019ll need to complete a means test that evaluates your income and expenses.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lexingtonlaw.com\/blog\/finance\/bankruptcy-means-test.html\" \/>\n<meta property=\"og:site_name\" content=\"Lexington Law\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-14T17:15:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-13T20:58:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/bankruptcy-means-test-hero.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lexington Law\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.lexingtonlaw.com\/blog\/#website\",\"url\":\"https:\/\/www.lexingtonlaw.com\/blog\/\",\"name\":\"Lexington Law\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.lexingtonlaw.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.lexingtonlaw.com\/blog\/finance\/bankruptcy-means-test.html#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/bankruptcy-means-test-hero.jpg\",\"contentUrl\":\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2021\/12\/bankruptcy-means-test-hero.jpg\",\"width\":1500,\"height\":500,\"caption\":\"Applying for bankruptcy\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.lexingtonlaw.com\/blog\/finance\/bankruptcy-means-test.html#webpage\",\"url\":\"https:\/\/www.lexingtonlaw.com\/blog\/finance\/bankruptcy-means-test.html\",\"name\":\"Bankruptcy means test: who qualifies for Chapter 7? 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