The Bankruptcy Court uses a formula called the “Means Test” to determine whether you are eligible to file a Chapter 7 case. This test is designed to prevent individuals from abusing the bankruptcy system. The test combines your average income over the last 6 months prior to filing and subtracts certain IRS allowances for basic living expenses and some of your actual living expenses. The Means Test can be confusing. You also may be exempt from the Means Test for various legal reasons. Our extended team will guide you in determining if filing a Chapter 7 bankruptcy is the most prudent option for you.
Oppenheim Law | Bankruptcy Attorneys
2500 Weston Rd #404
Fort Lauderdale, FL 33331