What is the Means Test?
The means test is an evaluation of your income, expenses, and secured debt to see if you qualify for a Chapter 7 bankruptcy. If your income is above the median income in Massachusetts, you may qualify for Chapter 7; however, you must provide detailed information about your financial situation in order to find out if you qualify. If your income is above the median income in Massachusetts, you may still be eligible for Chapter 7 bankruptcy.
What Are My Alternatives?
If you do not qualify for a Chapter 7 bankruptcy, Daigle Law Office can work with you to determine if a Chapter 13 might be a better option. Daigle Law Office can work with your creditors to create a repayment plan to submit to the bankruptcy court where you will be able to pay back the debt over time. Contact Daigle Law Office and we will assist you in determining which bankruptcy would be best for you.