The means test assesses your ability to repay debts to determine eligibility for Chapter 7 bankruptcy. You automatically pass the means test if your household income is under your state's median ...

You don’t need a minimum amount of debt to qualify for Chapter 7 bankruptcy. Filing for Chapter 7 can significantly impact ...

For a family of three in Alaska, it's $33,310. A common means test is the one used to determine eligibility for Chapter 7 bankruptcy. Since debts do not have to be repaid under Chapter 7 ...

If you're thinking about filing for bankruptcy soon, make sure you know the answers to these key questions first.

Generally, with Chapter 7, your income must fall below the median income level of your state, or you may have to take a means test to determine whether you can repay your debts. In other words ...