Means Test Chapter 13

Very little in bankruptcy causes more confusion and anxiety than the Chapter 7 means test. Many people assume that the means test will automatically force them into a Chapter 13 payment plan or prevent them from filing for bankruptcy at all. Although these assumptions are not true in most cases, the confusion is understandable.

If you are filing for Chapter 13 bankruptcy, you do not need to complete the means test. However, you do need to complete a form almost identical to it – and that will determine how much you must pay in a Chapter 13 plan.

Form 122A-2 is the form certain chapter 7 debtors will complete and the multiplier is entered on Line 36; Form 122C-2 is the form certain chapter 13 debtors will complete and the multiplier is entered on Line 36. Schedules of Actual Administrative Expenses of Administering a Chapter 13 Plan (as Required by 11 U.S.C. 707(b)(2)(A)(ii)(III))

This is an official bankruptcy form. official bankruptcy forms are approved by the Judicial Conference and must be used under Bankruptcy Rule 9009.

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Pennsylvania Bankruptcy Means Test If you would like to file a Chapter 7 bankruptcy you must pass the Pennsylvania means test. The test only applies to higher income filers which means that if your income is below the Pennsylvania median for your household size you are exempt from the test and may file a Chapter 7.

Chapter 11 and Chapter 13 Cases 19 Means Test Frequently Asked Questions 20 Quick Start Guide 21. Best Case, LLC Q www.bestcase.com Q 1.800.492.8037 3 The Complete Means Test If the debtor’s income is higher than the state median, the debtor must complete form 22a-1 chapter 7, 22a-2 chapter 7.

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If you pass the means test, you get to choose the chapter of bankruptcy that furthers your goals. Fail, and you’re limited to Chapter 13, or some non bankruptcy form of relief. So, the magic calculation deducts future living expenses in certain categories from income from your recent past.

The same means test that is supposed to determine whether you can file Chapter 7 bankruptcy is used to decide what you must pay to creditors in Chapter 13.

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