Posts Tagged ‘Bankruptcy’

If you are thinking to file for Chapter 7 bankruptcy, then you will have to pass the means test. You need to know that it is the means test which will help you know if you really earn below your means and thus, require filing Chapter 7 bankruptcy. The individuals who earn a good salary and cannot pass the means test may use Chapter 13 bankruptcy for paying off some of their outstanding debts. However, they might not be using Chapter 7 bankruptcy to eradicate all the debts.