How To Pass the Chapter 7 Means Test

For many people filing for Chapter 7 bankruptcy, the “means test” can be a daunting obstacle. The means test is designed to weed out filers who have the ability to repay their debts through a Chapter 13 repayment plan. But with a little preparation, it is possible to pass the means test and get your fresh start through Chapter 7 bankruptcy.

To pass the means test, you must first calculate your “current monthly income” (CMI). CMI is your average monthly income over the six months prior to filing for bankruptcy. This includes income from all sources, such as wages, commissions, child support, and alimony. Once you have calculated your CMI, you must compare it to the median income for your state.

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