Tag Archive: means test

Lots of business debt can allow you to qualify for Ch. 7 more easily

If you owe more business debt than consumer debt, then you can avoid not only the “means test” but also some other roadblocks to a successful post-business Chapter 7 bankruptcy case.

Slight median income changes coming Nov. 1

It will be just a little bit easier or a little bit harder to qualify to file a Chapter 7 “straight bankruptcy” as of November 1, 2011.

Must I report illegal or previously unreported income in my bankruptcy?

It sometimes comes up that a person who wants to file for bankruptcy has income that is either derived from an illegal source (such as drug dealing) or that has not been reported to the IRS (when it should have been). Also, many people get confused between the reporting requirements for the IRS and […]

Variable income and the Chapter 7 means test

How those with variable income can pass the Chapter 7 means test.

New Jersey household median income levels rising soon

Image via Wikipedia

The picture over there on the right? Those are test tubes. I couldn’t resist – you’ll get it in a minute. Read on.
On November 1, 2009, the Census Bureau median family income for a one-person household in New Jersey goes up from $57,120 to $60,026. What does this mean […]

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