What Is The Bankruptcy “Means Test?”

“Can I file for bankruptcy?” This is usually the first question many people ask when speaking with us at Advanced Bankruptcy Legal Services of Connecticut in Connecticut. The answer is simple: Only after completing a detailed nine-page form, known as the “means test,” will you know if you are eligible for personal bankruptcy.

Obtaining debt relief is no longer a matter of simply filing for bankruptcy. Since October 2005, requirements have been established under the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). One of these requirements is an evaluation to determine eligibility known as the means test.

A Detailed Financial Evaluation

The means test form, also known as a “comprehensive bankruptcy evaluation” is a complex financial evaluation that your attorney completes to determine whether you meet the eligibility requirements to file for Chapter 7 or Chapter 13 personal bankruptcy. You provide verifiable details for all your income and expenses. Your lawyer painstakingly verifies the information, performs precise calculations and compares the results against government-set averages. The results determine whether you are eligible to file for consumer bankruptcy and, if so, which chapter.

Our bankruptcy attorneys at Advanced Bankruptcy Legal Services of Connecticut are very experienced. For decades, we have helped numerous individuals, families and small business owners find a financial fresh start through debt relief. Our ability and experience are recognized by our colleagues, and they frequently refer “tough cases” to us.

Contact Us For A Free Consultation

Before you listen to the commercials and lenders and others saying you cannot file for bankruptcy, contact our attorneys for a free bankruptcy evaluation. We serve the state of Connecticut. Call our New Britain office at 860-674-8003 or our Bloomfield office at 860-242-0574 or email us to schedule a free consultation.