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 [...]
median income test
Before you file Chapter 7 bankruptcy – or even under Chapter 13 – you must first determine if you are above the “median income”. The median income test is based on the average income earned your state and is calculated each year by the U.S. Census Bureau. The “income” you must consider is not necessarily [...]
