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Chapter 7 Means Test Calculation | United States Courts. Download Form (pdf, 450.06 KB) Form Number: B 122A-2. Category: Means Test Forms. Effective onApril 1, 2022. This is an Official Bankruptcy Form. Official Bankruptcy Forms are approved by the Judicial Conference and must be used under Bankruptcy Rule 9009. Committee Notes.
Free Bankruptcy Means Test Calculator for your State and County. Applies all IRS Expense allowances and current State Median Income standards to give you an idea of whether you qualify for Chapter 7 bankruptcy.
The Chapter 7 means test determines whether allowing someone to discharge their debts would be an abuse of the bankruptcy system. If your gross income based on the six months before filing bankruptcy is below the median income for your state, you pass the means test.
Most individual debtors filing for bankruptcy relief are required to complete a version of Bankruptcy Form 122. Official Form 122A-1 (Chapter 7 Statement of Your Current Monthly Income), Official Form 122A-1Supp (Statement of Exemption from Presumption of Abuse Under § 707 (b) (2)), and Official Form 122A-2 (Chapter 7 Means Test Calculation ...
Free Bankruptcy Means Test Calculator for your State and County. Applies all IRS Expense allowances and current State Median Income standards to give you an idea of whether you qualify for Chapter 7 bankruptcy.
You'll find out whether you can qualify for Chapter 7 bankruptcy by taking the bankruptcy "means test." The Chapter 7 means test calculation determines whether your income is low enough to file for Chapter 7 bankruptcy.
Chapter 7 Means Test Calculator for your state and zip code using bankruptcy means test to estimate whether you qualify for a Chapter 7 bankruptcy. Check estimate in under 5 minutes.
We use the Chapter 7 Statement of Your Current Monthly Income (Form Number: B 122A-1) for our Chapter 7 means test calculator and the Chapter 7 Means Test Calculation (Form Number: B 122A-2) for our above-median Chapter 7 calculator.
This calculator helps you determine if you are eligible to file for Chapter 7 bankruptcy. Here is how to use it: Enter your monthly income. Enter the size of your household. Enter your secured debts (monthly payments). Enter your unsecured debts (monthly payments).
If you are unsure as to whether or not you may qualify for Chapter 7, feel free to take our free Chapter 7 calculator to estimate qualification and cost. The calculator was designed with you in mind and is based on the bankruptcy means test forms in Illinois!