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What Are the Chapter 7 Bankruptcy Income Limits?

Chapter 7 bankruptcy is a type of liquidation that involves the sale of assets to pay off creditors. It can be a helpful tool for individuals struggling with debt, but there are certain income limits that must be met in order to qualify. To determine if you meet the requirements, it's important to understand what these limits are and how they could affect your financial future.

The chapter 7 bankruptcy income limits, also known as the means test, take into account your current monthly income and household size. Depending on your state and whether you're filing jointly or as an individual, this amount will differ greatly. Your current monthly income must fall below the median for households of similar size in order to qualify for chapter 7 bankruptcy. If it exceeds this limit, then you may have to file under another type of bankruptcy or pursue other options for debt relief.

The Law Offices of the Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706


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