If you are an “above-median income” debtor, you may wonder if you can still file Chapter 7.  The answer to this question is “yes,” but your case will be more complicated. Although the phrase “means test” suggests a single calculation, in fact, means testing involves several calculations – it would be more accurate to describe [...]
Means Testing
We’ve been spending the last week or so showing you just how simple it is to complete the means test form. Now, we have just one little box that could lead you to pull your hair out. You need to consider you “projected chapter 13 payment” as well as the “multiplier” which applies to your [...]
So you thought we were done with the Means Test? Ha! If you’re planning to file a bankruptcy case, it might be that you are behind in your payments under your mortgage. In that case, you can and should deduct the amount of money you’d have to pay to “cure” the default in your mortgage. [...]
For the first time since means testing was introduced in 2005, several of the median income numbers for Georgia families have gone down. This means that the presumption of abuse is more likely to arise for Georgia filers. Here is an example: if you have a family of 4 and file Chapter 7 on October [...]
