By Jeff Field | Published March 23, 2026 | Posted in Bankruptcy | Tagged Tags: bankruptcy, chapter 7, disposable income | Leave a comment
Is It Possible to Qualify Under the Chapter 7 Means Test Even if You Have a High Income?
People who struggle with debt despite earning a higher-than-average income sometimes are told that they cannot file for Chapter 7 bankruptcy because they make too much. Indeed, the means test is used in Chapter7 proceedings to ensure that debt discharge only is granted to those who really need that type of relief. While the first Read More
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How Disposable Income is Calculated in a Chapter 13 Bankruptcy
Homeowners and others who have a steady income but have fallen behind on their financial obligations frequently file for Chapter 13 bankruptcy. This form of debt relief offers individuals the chance to stop harassment from creditors and catch up on what they owe based on a schedule lasting three or five years. Under Chapter 13, Read More
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What Is Considered During a Chapter 13 Feasibility Analysis?
For many people who have fallen behind on what they owe, a Chapter 13 bankruptcy seems like the right solution. This is particularly true for those who are earning a steady income, but can’t catch up after a financial setback, such as a divorce, accident, medical crisis or temporary job loss. Instead of discharging nonexempt Read More
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7 Common Pitfalls in Meeting the Chapter 7 Means Test
When individuals struggling with overwhelming debt decide to file for Chapter 7 bankruptcy, they must usually pass the means test. This is the government’s method of determining whether the debtor actually has sufficient income to repay creditors, at least partially. The means test can be a formidable hurdle to establishing eligibility for bankruptcy relief. The Read More
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When and How Can You Modify a Chapter 13 Plan?
Chapter 13 bankruptcy is a powerful tool for people who are struggling with insurmountable debt. It allows you to pay off your unsecured debts monthly over a period of three or five years, and at the end of your repayment plan, the remaining debts will be discharged. The size of your monthly payment is based Read More
Read MoreWhat Is the “Means Test” in a Chapter 7 Bankruptcy?
If you are behind on your monthly bills and feel you are drowning in debt, filing for a Chapter 7 bankruptcy can give you a fresh start. Simply put, a Chapter 7 forgives most of your debts while allowing you to keep some of your property and to rebuild your creditworthiness. As attractive as this Read More
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