Miami Bankruptcy Means Test Lawyers

Fort Lauderdale Chapter 7 Attorneys

If you are considering filing for bankruptcy in Florida, one of the first steps in the process is determining your eligibility. Our attorneys at Kingcade & Garcia help families and individuals determine if they qualify for Chapter 7 or Chapter 13 bankruptcy. We will evaluate your financial situation, debt and income, then apply the means test and guide you through Chapter 7 or Chapter 13 if it is your best option.

What Is the Bankruptcy Means Test?

The means test determines your eligibility to file for Chapter 7 bankruptcy relief. The test uses your annual household income from the past six months. If you are below the median income for a household of your size, then you qualify to file for Chapter 7. The median income changes regularly. Please contact us to find out what the current median income is for your household size in Florida.

If you are over the median income for a household of your size, you may still qualify for Chapter 7, but you must complete a longer form of the means test. This version is based on several other qualifying factors. For example, do you expect your income to discontinue? Or, was your income in the past six months from a one-time distribution?

If you do not qualify for Chapter 7 based on the long form means test, then you may want to consider filing for Chapter 13 bankruptcy.

While it may seem straightforward, applying the means test can be challenging. At Kingcade & Garcia, our bankruptcy lawyers can guide you through the bankruptcy qualifications and help you determine the best option to meet your financial needs. Call 305-285-9100 or contact us online to arrange a free consultation with a Miami bankruptcy means test attorney