Our Bankruptcy Attorney Provides Guidance: New Hampshire Means Test
If you are about to begin the process of filing for bankruptcy in New Hampshire, then you will need to determine what chapter to file under: chapter 7, or chapter 13. While we both have Specific advantages, only certain qualified individuals may file for Chapter 7, as this chapter is meant for low-income earners. To find out if your income is below the median in New Hampshire, you need to take the means test. Specific advantages, only certain qualified individuals may file for Chapter 7, as this chapter is meant for low-income earners. To find out if your income is below the median in New Hampshire, you need to take the means test.
Taking The Means Test in New Hampshire
The official document for the federal means test is official form 228. It will ask you to provide details about your monthly income, assets, debts, and expenses. Upon completing and filing this form, the bankruptcy court will determine your eligibility.
To get an idea of your eligibility before filing the document, you may ask yourself these two questions:
- Is My Income More Than The Median Income in New Hampshire?
- Do I have Enough Disposable Income to Repay My Debts?
Find the current median income for your area on the website for the United States, Department of Justice, Census Bureau, IRS data, and administrative expenses multipliers. If your median income is below average, then you will most likely qualify for Chapter 7. Find the current median income for your area on the website for the United States, Department of Justice, Census Bureau, IRS data, and administrative expenses multipliers. If your median income is below average, then you will most likely qualify for Chapter 7.
However, if your median income is above average, you will need to find out if your disposable income is enough to pay off some of your unsecured debt.
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Schedule an appointment with Buckley Law Offices, P.C.
To find out if you qualify for Chapter 7 bankruptcy in New Hampshire, call Buckley law offices, P.C. Our firm can guide you through the process and help you make the necessary calculations. If you are not eligible for Chapter 7, you may be able to file under Chapter 13. Call our firm to schedule your free case evaluation today. With decades of practical experience, our founding attorney has successfully tried numerous cases in federal and New Hampshire state courts, recovering millions of dollars in compensation for the firm’s clients. Let us help with whatever legal issues you’re dealing with.
We are committed to the best interests of our clients. We want to ensure that you feel as little stress as possible when faced with legal problems, so our team does all the paperwork when you come to us. This is to ensure you feel relieved and not burdened with countless paperwork.
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