Understanding the Chapter 13 Bankruptcy Means Test | Practical Law

Understanding the Chapter 13 Bankruptcy Means Test | Practical Law

A Practice Note detailing the line-by-line steps an individual Chapter 13 debtor must take to complete the forms known as the means test. The means test is used to determine how long the debtor must stay in bankruptcy and how much the debtor must pay to unsecured creditors. This Note summarizes the calculation of the debtor's current monthly income and the calculation of the debtor's disposable monthly income, the steps of which comprise the means test.

Understanding the Chapter 13 Bankruptcy Means Test

Practical Law Practice Note w-021-9631 (Approx. 19 pages)

Understanding the Chapter 13 Bankruptcy Means Test

by Leo G. Spanos, Jen Lee Law, Inc., with Practical Law Bankruptcy & Restructuring
Maintained • USA (National/Federal)
A Practice Note detailing the line-by-line steps an individual Chapter 13 debtor must take to complete the forms known as the means test. The means test is used to determine how long the debtor must stay in bankruptcy and how much the debtor must pay to unsecured creditors. This Note summarizes the calculation of the debtor's current monthly income and the calculation of the debtor's disposable monthly income, the steps of which comprise the means test.