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What is the means test?

By Florida Law Advisers, P.A. |

In 2005, Congress implemented the means test as a requirement for Chapter 7 bankruptcy. The means test requires Chapter 7 debtors to earn below a specified amount of income.

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Do I need to pass the means test for Chapter 13 bankruptcy?

By Florida Law Advisers, P.A. |

No, the means test is only a requirement for Chapter 7. If you do not satisfy the means test, you may still be eligible to file Chapter 13 bankruptcy.

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How much can I earn and still pass the means test?

By Florida Law Advisers, P.A. |

The amount is based largely on the median income for a household of your size. However, if your income is above the median you may still pass the means test. Determining eligibility for Chapter 7 can be complex, you should contact a bankruptcy lawyer for assistance.

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What if my income fluctuates?

By Florida Law Advisers, P.A. |

For purposes of the means test, the court will use your average income over the past 6 months. Most often, pay stubs are required to properly calculate the average amount of income earned over the past 6 months.

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