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Posted On: August 4, 2010 by Scott Sagaria

More on the Means Test

A San Jose bankruptcy attorney on the Means Test

In 2005 a new bankruptcy law came into effect requiring a Means Test in order to determine a debtor's eligibility to file either a Chapter 7 or a Chapter 13 bankruptcy. As part of the assessment that happens during the Means Test, the debtor's income for the last 6 months is given an average, than compared to the median average income of the state. If the debtor's income is above the state median and their qualified deductions will not reduce their income any further, they typcically may file for Chapter 13 bankrutpcy. If the debtor's average income is below the state median, they typically are eligible to file Chapter 7 bankruptcy, a.k.a. the Fresh Start. To learn more about which bankruptcy may be right for you, and more about the Means Test, you may want to contact an experienced bankruptcy attorney.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

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