Means Testing Tag

19 Jun Can “Above Median Income” Debtors Satisfy the Means Test and Still File Chapter 7?

above median debtor satisfies means testIf 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 these calculations in the plural, i.e. means tests. Like a double elimination softball tournament, if you lose round one of the means test, you can still qualify for Chapter 7 in round two.
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