Daniel Rodriguez
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The first part of the means test
The first part of the means test is performed using data found on Chapter 7 bankruptcy petitions. To pass the means test, the income stated by the petitioner must be less than the median income for a household of the same size. Wages, salaries, tips, alimony, child support and pensions are considered when the Chapter 7 means test is performed, but Social Security Disability and retirement benefits are not.
The second part of the means test
Failing the first part of the means test does not necessarily lead to a Chapter 7 petition being denied. When petitioners earn more than the state median income for households of the same size, a second set of calculations is run that factors in their monthly expenses. This is why it is important to be thorough and include all expenses and household members when competing bankruptcy forms.
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