| What is the Chapter 7 Bankruptcy Means Test? Beginning in October of 2005, people who want to file for Chapter 7 bankruptcy have to pass what is known as the "Chapter 7 means test". The Chapter 7 means test is a formula to determine whether or not the consumer should have enough money available to make some minimal payment to creditors in a Chapter 13 bankruptcy plan. The goal is to reserve Chapter 7 bankruptcy for those who really have no means to pay, and to push those who have available income into Chapter 13 bankruptcy plans, so that their creditors will receive at least partial payment. As the means test can be a bit complicated, you’ll want to enlist our help. Link to Means Test |
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