Tag Archives: Chapter 7 Means Test

What Income is Included in the Chapter 7 Means Test?

Reforms made to the bankruptcy code in 2005 made it harder for consumers to file for Chapter 7 liquidation. In a Chapter 7, most consumers can completely wipe out (or “discharge”) their unsecured debts like personal loans, medical debt, and credit card debt. This is a terrific benefit for indebted consumers, so the banking… Read More »