Bankruptcy Means Test

Arizona Test to Determine Eligibility for Bankruptcy

The Bankruptcy means test was established as part of the changes to the Bankruptcy Code in 2005. It measures a debtor's income and expenses in comparison to the median household in his or her home state, and is required to determine eligibility for Bankruptcy. In general, those who fall below the median are eligible to file Chapter 7 Bankruptcy, while debtors above the median may be better suited to file Chapter 13.

The Bankruptcy means test is not absolute, however. Several factors go into consideration when determining which chapter of personal Bankruptcy is best, including income, expenses and overall financial prospects. Just because you can file Chapter 7 Bankruptcy, does not mean you should.

Free Consultation ● Get Debt Relief Help Now

Some law firms will promise cheap and fast Bankruptcy filings. Too often, however, their clients are simply handed forms with little concern as to their actual debt relief needs.

At The Law Offices of Charles M. Sabo, P.C., we use the Bankruptcy test as a starting point, rather than the decision-making tool for our clients' debt relief path. Attorneys Charles M. Sabo and Jessica Sabo sit down with each of our clients to evaluate their financial situations and discuss their options. We provide tailored legal guidance according to our clients' needs and financial objectives.

Contact Us for More Information

Filing Chapter 7 or Chapter 13 Bankruptcy can make a big, positive difference in your life. The Bankruptcy means test can help you determine which relief option is right for you. For more information, The Law Offices of Charles M. Sabo, P.C., can help.

From wherever you are in the Valley, call our office manager Susan at 480-820-5931 (Tempe) or 623-842-0180 (Glendale) or send us an e-mail to arrange your free initial consultation with an experienced Phoenix Bankruptcy lawyer.