Deductible Expenses That Can Help You Pass The Chapter 7 Means Test
Filing for chapter 7 bankruptcy can help you deal with an overwhelming debt problem, but you must pass a means test to qualify for this type of case. The means test is designed to determine if you have enough disposable income to pay your debts. If you do, you won't be able to file for chapter 7 and will have to settle for chapter 13. However, the bankruptcy court does allow debtors to deduct a number of expenses from their incomes, which may make it easier to qualify for chapter 7 bankruptcy.