Justice Department Publishes New Means Test Numbers
At the request of the Credit Card Industry Lobbyists, Congress enacted the Bankruptcy Abuse Prevention and Consumer Protection Act effective in October 2005. Since then, if you file a Knoxville bankruptcy when your debts are primarily consumer debts you must go through what is known as the “means test.” The Means Test is intentionally designed to make it harder for people to file Chapter 7 bankruptcy.
If you are above the “median income” then in many cases you must file a Chapter 13 bankruptcy. […]