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$7k annually over median income, still take the means test?

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    #1

    $7k annually over median income, still take the means test?

    My annual income is $7,000/year over the median annual income for my state. So should I waste my time taking the means test to see if I can do a Chapt 7?
    We have a house with no equity and a car with no equity that we want to keep. We are up to date on our payments with the house and car.
    Filed Ch7 - 10/2/07 no asset
    341 Meeting - 10/29/07
    Discharge - March 2008 forgot the date
    Tags: None
    #2
    Of course you should complete the means test.
    If your disposable income is below $166/month, you likely qualify for a 7.

    Comment

      #3
      Jason, go to http://www.uscourts.gov/bkforms/bankruptcy_forms.html and download Form B22A Statement of Current Monthly Income and Means Test Calculation.

      Print this and use it as a worksheet to find out where you stand.

      Everyone has to do the Means Test.

      You can download all BK forms (free) from this website, and I highly recommend that you do - it'll take a lot of the mystery out of it for you.

      Comment

        #4
        You have to do the means test. Even if you are over the median income for your state it is still possible for you to qualify for a chapter 7 if certain conditions are met.

        Good Luck to you
        May 31st, 2007: Petition Filed by my lawyer
        July 2nd, 2007: 341 Meeting Held
        September 4th, 2007: Discharged and Closed.

        Comment

          #5
          Thanks everyone! Time to do some work!
          Filed Ch7 - 10/2/07 no asset
          341 Meeting - 10/29/07
          Discharge - March 2008 forgot the date

          Comment

            #6
            Here's an easier way for you:

            http://www.legalconsumer.com/means-t...ator/index.php

            Plug in your Zip Code, your personal info, and see what the Calculator spits out for you. The calculator will give you fairly accurate idea of what to expect.
            Filed Ch 7 - 09/06
            Discharged - 12/2006
            Officially Declared No Asset - 03/2007
            Closed - 04/2007

            I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

            Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

            Comment

              #7
              I betcha you will pass..... there are people over like $14.000 plus on pacer and discharge and closed with chpt 7 some even had assets. this was in Arizona so I am not sure about your state and what they allow. By the way, they closed within the 4 months so there must not have been o too many problems, the kicker is they did it pro se.
              Success is reachable, stretch out your arm and grab it.

              Comment

                #8
                We were $12,000 over the median income & we qualified. We had no assets. We were able to exempt the one car that's paid pff. We're keeping our other car & motorcycle that are financed.

                We've already had our 341 & now we're just waiting...57 more days to go.

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