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Chapter 7 Means Test Calculation | United States Courts. Download Form (pdf, 450.06 KB) Form Number: B 122A-2. Category: Means Test Forms. Effective onApril 1, 2022. This is an Official Bankruptcy Form. Official Bankruptcy Forms are approved by the Judicial Conference and must be used under Bankruptcy Rule 9009. Committee Notes.
Chapter 7 Means Test Calculation 04/22 To fill out this form, you will need your completed copy of Chapter 7 Statement of Your Current Monthly Income (Official Form 122A-1). Be as complete and accurate as possible.
Free Bankruptcy Means Test Calculator for your State and County. Applies all IRS Expense allowances and current State Median Income standards to give you an idea of whether you qualify for Chapter 7 bankruptcy.
To qualify for Chapter 7 bankruptcy, you need to pass a means test. In the test, you compare your income with the median income of a similar size household in your state. If your income is lower, you pass the test.
The Chapter 7 means test determines whether allowing someone to discharge their debts would be an abuse of the bankruptcy system. If your gross income based on the six months before filing bankruptcy is below the median income for your state, you pass the means test.
Implemented by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the Means Test is a required form and set of calculations that determines whether a presumption of abuse exists for a Chapter 7 debtor in a consumer bankruptcy case.
prevent you from obtaining relief from your debts under chapter 7 of the Bankruptcy Code. Chapter 7 relief can be denied to a person who has primarily consumer debts if the court finds that the person has enough income to repay creditors.