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1Chapter 7 Bankruptcy Means Test

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  • Jack Smith
    Dec 9, 2010
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      The biggest hurdle in qualifying for a the Chapter 7 Bankruptcy Means Test. To be eligible for a complete discharge of debts, a bankruptcy filer is required to pass the Means Test as per U.S. bankruptcy laws. Therefore, if you are considering filing a chapter 7 bankruptcy for securing debt relief, you need to have a thorough understanding of the Means Test procedure.

      Benefits Filing Chapter 7 Bankruptcy:

          * Any debt amount can be completely cleared, and once you are discharged, you are 100% clear of debts.
          * There is also no minimum amount of debt needed in order to file for it.
          * Creditors no longer have any claim on you. Your wages and possessions bought after the discharge are your own and nobody, except you, has any claim over them.
          * It is very fast, you stand a very good chance of your claim being discharged in the next 4 - 6 months.


      The biggest hurdle in Filing Bankruptcy  for a chapter 7 is the chapter 7 bankruptcies Means Test. To be eligible for a complete discharge of debts, a bankruptcy filer is required to pass the Means Test as per U.S. bankruptcy laws. Therefore, if you are considering filing a chapter 7 bankruptcy for securing debt relief, you need to have a thorough understanding of the Means Test procedure. In fact, it could be essential the moment you feel, Should I file for Bankruptcy since, the IRS has eked out a "national standard" that serves as a guideline. Here is some crucial information pertaining to the same which could be useful in providing you with some meaningful information on the subject.