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The Bankruptcy Means Test in Virginia

To file for Chapter 7 bankruptcy, you must pass the means test. This test is used to compare your income in the six-month period before filing to the average income of a comparable household in Virginia. If your income is below the median state income for a comparable household, which was $56,436 in 2017, according… Read More »

The Chapter 7 Bankruptcy Means Test Explained

The means test determines whether you have a sufficiently low income to qualify for Chapter 7 bankruptcy. People who do not pass the test but still wish to file for bankruptcy can opt for Chapter 13 bankruptcy, which requires them to organize debt repayment plans. However, you can still pass the means test if you… Read More »