The Means Test


Georgia Bankruptcy Attorneys

One of the most frequently asked questions that we get from our clients involves the Atlanta Chapter 7 bankruptcy mean test. What is it? How does it work? Will it keep me from qualifying for bankruptcy?

Our Atlanta debt-management lawyers have a wealth of experience helping clients with the Chapter 7 means test in Atlanta, and we have a trained staff of assistants and paralegals, all trained and ready to help you. At The Slomka Law Firm, we want to help you hit the reset button on your finances and get a fresh start.

A Simple Guide to the Means Test

Although there are a lot of complicated aspects to the means test, the basic formula is quite simple:

  • Determine monthly income: The first thing is to determine how much you make every month. This figure is based on the average income you earned during the six months prior to the date of filing.
  • Determine expenses: There are certain pre-determined fixed monthly expenses that count for this calculation, including mortgage payments, vehicle loan payments and insurance payments. Other payments like utilities and food can also be considered.
  • Determine disposable income: The difference between your income and expenses results in your disposable income.

The lengthy test then disqualifies clients with high incomes or high disposable incomes from filing a Chapter 7  bankruptcy petition, although clients with our experienced debt management lawyers in Atlanta can often find strategies to benefit their unique situations. You still might be able to reorganize your debts into a more manageable payment plan with the Chapter 13 process. There are also many alternatives to bankruptcy we can discuss at your free initial consultation with our debt management lawyers in Atlanta, Georgia.

Atlanta Chapter 7 Bankruptcy Lawyer • (678) 732-0001

There is no pressure or obligation. Contact us today for a free initial consultation with one of our experienced debt-mangement lawyers. Our experienced Atlanta means test and Chapter 7 bankruptcy experts will help you decide whether bankruptcy is right for you.