Massachusetts Bankruptcy Means Test If you would like to file a chapter 7 bankruptcy you must pass the massachusetts means test. The test only applies to higher income filers which means that if your income is below the Massachusetts median for your household size you are exempt from the test and may file a Chapter 7.
If your income is higher than the Texas median you will need to complete the means test calculation to determine if you can pay back a portion of your unsecured debts through a chapter 13 bankruptcy. Means Test Exemptions. If your debts are not primarily consumer debts then you are exempt from the means test.
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))
If your income exceeds allowed amounts, or if you don't qualify for a means test exception, you'll need to explore Chapter 13 bankruptcy for debt relief.
When you file for Chapter 13 bankruptcy, there is no "means test" to determine whether your income is too high. In fact, opposite forces are at work in Chapter 13 — if your income is so low that you cannot fund a repayment plan , you won’t be eligible for Chapter 13.
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The main goal of the means test is to require higher earning debtors to pay back some or all of their debt in Chapter 13, rather than allowing them to discharge their debt in Chapter 7. Although Chapter 7 filers may lose any property they can’t protect with an available exemption, they don’t have to directly repay any debt.
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.
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