What is the Chapter 7 means test?

In recent years, the US Bankruptcy Code has been amended to make it more difficult to file for bankruptcy, especially under Chapter 7. For example, you cannot file for Chapter 7 bankruptcy unless your monthly income is below average for your area. This is determined by the means test, a complex formula that includes your income, expenses, and economic information about your area.

Even if you do not qualify for Chapter 7, you may still be able to get out of debt by filing under Chapter 13. To learn more, contact Milwaukee Chapter 7 bankruptcy lawyers through the DeLadurantey Law Office, LLC at 414-377-0518.