What is the means test for a Chapter 7 bankruptcy?
You may have read that the new bankruptcy law imposes a “means test” on who can file for Chapter 7 bankruptcy. You might think this new test will prevent you from filing. Most people considering bankruptcy have no trouble passing the means test. Indeed, some lawyers think more people will qualify for Chapter 7 under this test than under the old law that provided judges with discretion on when someone was eligible for a Chapter 7 bankruptcy.
