The Chapter 7 ’Means’ Test in Pennsylvania Bankruptcy
Do you qualify for bankruptcy in Harrisburg, York, or Chambersburg?
Chapter 7 is known as the “fresh start” bankruptcy, where nearly
all your debts – such as credit cards, medical debt, lawsuits/judgments
and mortgage foreclosure deficiencies – are discharged so you can
start over with a clean slate. Because of the attractive nature of the
“fresh start,” Chapter 7 bankruptcies became wildly popular.
In 2005, Congress changed bankruptcy law to add a prerequisite test you
must take before filing for Chapter 7 bankruptcy. This condition, known
as the “means test,” exists so that the federal government
knows that you have a true financial need to file for a “fresh start”
Although most people who consider filing for bankruptcy pass the means
test, it is still important to accurately fill out the qualifying test
because it helps decide your eligibility to file under Chapter 7. There
are some additional conditions of
Chapter 7 eligibility beyond the means test; they address your history of prior bankruptcies
and examine some other factors — such as whether you own your home outright.
Do you wish to speak with our York & Harrisburg bankruptcy lawyers
We are here to listen.
Call Dethlefs, Pykosh & Murphy Law now.
Dethlefs, Pykosh & Murphy Law is ready to help! Call today.
At Dethlefs, Pykosh & Murphy Law, our bankruptcy attorneys help
our clients with
all stages of Chapter 7 or 13, including the means test. If you need help with
any stage of bankruptcy, contact our legal team and one of our experienced
Carlisle personal bankruptcy attorneys can assist you.
Our Harrisburg & York bankruptcy law firm is experienced at helping
people determine whether they qualify for Chapter 7 bankruptcy. Even if
you don’t meet the requirements of the means test for Chapter 7,
Chapter 13 bankruptcy may still afford you a lot of relief. Our Chapter
7 attorneys are happy to help you explore your options and make an informed
decision. Take the first step to a brighter future by
scheduling a free case evaluation.