Chapter 7 Means Test Calculator
About Chapter 7 Means Test Calculator
The Means Test Calculator provided uses median family income figures for each state as of March 15, 2009. These figures are subject to change and the Calculator may not be up to date. If you are not sure what your family size is or how to calculate your monthly household income, you should consult with an attorney when using this calculator.
If your income is greater than the median income for your state of residence and family size, you still might meet the means test after taking into consideration certain expenses as defined by the Bankruptcy Code and other deductions, including regular charitable donations (up to 15% of your income), school expenses, payments on 401(k)/IRA loans, and health Insurance. Whether you are a lay person or an attorney, please do not hesitate to call Attorney Justin Kelsey at 508.655.5980 to discuss the correct use of the calculator or to schedule a bankruptcy consultation.
What’s New in this Version
- Updated Median Income Figures.
- Kelsey & Trask, P.C.
- Chapter 7 Means Test Calculator
- Post Date:
- June 17, 2010
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