The Means Test in Buffalo
Considering bankruptcy? Let us help you understand your options.
The means test is a process through which you can determine whether you
are eligible to file for Chapter 7 bankruptcy. The test compares your
income to the median income for a household of your size in the state
of New York. If your income is less than that median, you can file for
Chapter 7 bankruptcy. To better understand the means test and how it may
apply to your situation, contact a knowledgeable Buffalo
We can help you find relief from debt through a
debt settlement plan, or other solution. For 10 years, the team at Christopher D. Smith
& Associates has been working tirelessly on behalf of our clients
to protect their rights and give them back their financial freedom. We
can put this experience to work for you and help you get the relief you need.
Completing the Means Test and Other Forms
In order to file for
Chapter 7 or
Chapter 13 bankruptcy, you will need to fill out a petition and several other forms.
If you are hoping to file for Chapter 7, you must complete the means test
form (Form 22A). For Chapter 13, plan to submit a "commitment period
and disposable income" form (Form 22C). Each of these two forms provides
a complete list of expense categories that qualify for deductions, such
as transportation, healthcare, childcare, and food. For some categories,
you can deduct the actual amount you spend monthly while for others you
can only deduct a predetermined amount based on regional or national standards.
Keep in mind that even if your income is above the state median, you may
still be eligible for Chapter 7 bankruptcy, but you will need to submit
more detailed information about your debts, expenses, and payments. Even
people who file for Chapter 13 typically have to provide this information,
so it is best to collect this data no matter which way you plan to go,
and we help you through the entire process. All information submitted
must be 100% accurate or there could be legal trouble, as the court may
believe you were attempting to avoid debt through bankruptcy fraud. You
cannot take chances.
Don't Be Intimidated by the Bankruptcy Process
If the bankruptcy process seems confusing or overwhelming, don't let
that stop you from getting the
debt relief you need. We can help you make a decision and discover if bankruptcy is
right for you, and if not, what you can do to get your finances back on
track. When you hire us, you will work directly with an attorney, not
a legal assistant, so you can be sure you will receive personalized, quality
legal counsel that is committed to your goals.
Contact us today so we can speak with you about your situation. We are ready to help.