Means Test

What is the Means Test Requirement?

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires most debtors, who's debts are primarily consumer debts, to be subject to a “means test” designed to determine whether the debtor is abusing the system.

The means test is based on the median income of the debtor's state. If the Debtor exceeds the income limit, a "presumption arises" that the debtor is abusing the system that must be overcome by the debtor.

Benefits received under the Social Security Act, or payments received as a victim of a war crime, crime against humanity, or as a victim of international or domestic terrorism are not included in the means test calculation.

What is the current median income for New York State?

$44,587.00 - 1 Person Family.

$54,397.00 - 2 Person Family.

$64,673.00 - 3 Person Family.

$77,664.00 - 4 Person Family.

Add $6900.00 for each additional person.

If you want to file for Bankruptcy to get a fresh start, and are searching for an experienced Bankruptcy Attorney, look no further.

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