Bankruptcy Calculator | Student Loans and The Means Test Bankruptcy Calculator. If you are considering filing for Chapter 7 bankruptcy and have a large amount of student loan debt, it’s possible that your loans might help you qualify for Chapter 7. This is because in order to file for Chapter 7, most debtors must pass something called the [...]
Bankruptcy Calculator | Is Your Income Over the Median? Bankruptcy Calculator. If your income is over the Florida median income for a household your size then you must complete the means test by calculating your income and expense information 1 Member Household - $41,334.00 2 Member Household - $51,839.00 3 Member Household - $53,952.00 4 Member [...]
Bankruptcy Calculator | Florida Bankruptcy Means Test Bankruptcy Calculator. If you would like to file a Chapter 7 bankruptcy you must pass the Florida means test. The test only applies to higher income filers which means that if your income is below the Florida median for your household size you are exempt from the test and [...]
Bankruptcy Calculator | Social Security Included in Means Test? Bankruptcy Calculator . If you receive Social Security benefits, you are not required to include that income on the Chapter 7 bankruptcy means test. This means that whether you pass the means test depends on the amount of your income excluding Social Security. Read on to [...]
Bankruptcy Calculator | Do I Have A Simple Case? Bankruptcy Calculator . You might think your bankruptcy case is a simple because you have ordinary financial problems. But even common debt issues can complicate a bankruptcy case. Knowing if your bankruptcy will be simple or not is important. It can help shape your expectations of [...]
Bankruptcy Calculator | Should I Consider Bankruptcy? Bankruptcy Calculator . For many individuals, filing for bankruptcy relief can provide a way out of debt and a fresh financial start. But whether or not a bankruptcy filing is in your best interest depends on many factors and your individual circumstances. Read on to learn more about what [...]
Bankruptcy Calculator | How To Get And File Bankruptcy Forms Bankruptcy Calculator . When you file for Chapter 7 or Chapter 13 bankruptcy, you must fill out a packet of forms. These consist of a “voluntary petition,” a number of other forms called “schedules,” and some additional forms. Often the whole packet is referred to as the [...]
Bankruptcy Calculator | Chapter 7 Means Test Bankruptcy Calculator . The bankruptcy "means test" determines whether your income is low enough for you to file Chapter 7 bankruptcy. It's a formula designed to keep filers with higher incomes from filing for Chapter 7 bankruptcy. High-income filers who fail the means test may use Chapter 13 [...]
Bankruptcy Calculator | Household Size Determination Bankruptcy Calculator . In the first step of the means test, you compare your income to the median income in your state for a household of the same size. Using the correct household size is important, but sometimes can be tricky to determine. What Is the Means Test? If [...]
Bankruptcy Calculator | Common Mistakes on Means Test Bankruptcy Calculator . The means test is often the starting point for anyone who is filing for bankruptcy. It determines if you are eligible for Chapter 7 bankruptcy, and impacts your plan length in Chapter 13 bankruptcy. The means test is a complicated form, and mistakes are common. [...]