Chapter 7 Bankruptcy Means Test Calculator: https://tryascend.com/qualify/bankrup...

In this video, we discuss everything you need to know about the Chapter 7 Bankruptcy Means Test. We will also go through the Chapter 7 means test calculator to help you estimate qualification and cost of Chapter 7 bankruptcy. If the results show that you may not qualify, consider taking the Chapter 7 Above The Median Calculator: https://bit.ly/3QFdH6A.

By the end of this video, you should be fully equipped with the knowledge needed to know whether you should apply for Chapter 7 and how to do so!

The Chapter 7 bankruptcy means test data can be found on the US government website. The means test based on household size, median income, and state is updated about every 6 months. You can use this average income calculator to help estimate your income: https://bit.ly/3clx6pB

The first part of the Chapter 7 bankruptcy means test is based on this bankruptcy form (https://www.uscourts.gov/forms/means...) and considers your income based on the Chapter 7 means test data.

The second part of the Chapter 7 bankruptcy means test is based on this bankruptcy form (https://www.uscourts.gov/forms/means.... If you make more income than the median income for your state and household size, you may want to take the abovemedian Chapter 7 bankruptcy calculator to estimate whether you may still qualify.

Music: https://www.bensound.com

Chapters:
0:00 Intro
0:40 Chapters
0:53 Video Overview
1:12 What is the Bankruptcy Means Test?
4:23 Take Means Test Calculator
11:31 Understand Results
16:15 Next Steps


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