Minneapolis Chapter 7 Bankruptcy Means Test

The Minneapolis Chapter 7 bankruptcy Means Test is one of the steps necessary to determine your eligibility to file, and having a talented Chapter 7 bankruptcy attorney by your side could help ensure the process is handled correctly.

What is the Chapter 7 Bankruptcy Means Test for?

The Chapter 7 Bankruptcy Means Test is used to determine if you have the ability to repay your debt.

If you don’t meet the Chapter 7 Means Test criteria, you will likely need to consider Chapter 13 Bankruptcy instead of Chapter 7.

In short, in Minnesota, the Chapter 7 Bankruptcy Means Test is used to determine if your income is less than the median income for your size household in this state.

This threshold is different for every state.

Just because you ‘pass’ the Chapter 7 Bankruptcy Means Test does not necessarily mean you should file Chapter 7 bankruptcy.

There are many things to consider when deciding which bankruptcy is right for you and your circumstances.

An experienced Minnesota bankruptcy lawyer can advise you of the advantages and disadvantages of Chapter 7 bankruptcy.

Minneapolis Chapter 7 Bankruptcy Means Test and Talented Attorney Support

It is important that you make a fully informed decision when considering bankruptcy. Working with a talented Chapter 7 bankruptcy attorney could help you better understand how the Minneapolis Chapter 7 Bankruptcy Means Test affects your eligibility.

Our Minnesota bankruptcy lawyers are located in four convenient locations throughout the Minneapolis and St. Paul communities. You will find us in Minneapolis, St. Paul, Blaine, and Brooklyn Park, and we will meet with you to discuss how Chapter 7 bankruptcy could apply to your situation during a free consultation.