Practical Bankruptcy: Passing the Income Side of the “Means Test” to Qualify for Chapter 7
The easiest way to pass the “means test” is to have no more than median income. Here’s how it works.
The easiest way to pass the “means test” is to have no more than median income. Here’s how it works.
Chapter 7 can only help in certain tax debt situations. Chapter 13 “adjustment of debts” is both more powerful and more flexible.
Even though a 3-to-5-year Chapter 13 case is often the best option for income tax debts, sometimes all you need is a simpler Chapter 7.
When it’s smart to file a 3-to-5-year Chapter 13 case to prevent a home foreclosure and be able to keep it permanently, or to sell it later.