The Chapter 7 Bankruptcy Means Test for Personal Advantage
The Chapter 7 bankruptcy means test first appeared in 2005. As part of the new law, all people who file must complete official form B22 A. In simple terms, the form calculates average monthly income and expenses over the last six months. The difference in these two amounts is considered as disposable income. Disposable income may be either positive or negative.
The Chapter 7 bankruptcy means test uses disposable income as a qualification standard. If a person earns to much, a quick discharge is not available. High income earners may only qualify for a wage earner plan that lasts up to five years when less than 100% of all debts are paid in full. To find out what you can do to change your filing status, see:
How to Alter Results With Small Lifestyle Changes
The law that regulates qualification standards and determines the type of discharge available is complex. Exceptions may have exceptions. A never ending progression of court decisions constantly affects how the law is applied. In effect, to complete form 22 A correctly, a high level of legal expertise is necessary. Alternatively, you could retain an attorney to complete the form for you.
The Best Option for Taking the Chapter 7 Bankruptcy Means Test
Lawyers are expensive. If you retain a lawyer to complete form B 22 A, you could spend in excess of $150 an hour for several hours required to complete the form correctly. Much of this time would be wasted because you must explain your financial history to your attorney in order to complete all required calculations. You have a better option.
A high quality and easy to understand set of instructions will allow you to complete the all calculations yourself. You may take the Chapter 7 bankruptcy means test in the privacy of your own home as many times as you wish. Results change often. For the cost of a small one-time fee, you will be amazed to see how easily your results may fluctuate. You may freely influence your results legally by making small changes in your lifestyle.
For greatest benefit, get started early. In the best case scenario, you should start monitoring results more than six months before filing. The the link above explains how to make these changes legally, professionally, and profitably.