Orange County Bankruptcy Lawyer

The Bankruptcy Means Test

The Bankruptcy Reform Act has a requirement that all individuals who are filing for Chapter 7 Bankruptcy must take a "means test".  This result of this test is that it will determine whether you are eligible to file Chapter 7 bankruptcy.  The test is quite complex, and measures whether you fall within a California "median" which is an average income for the state.  When you live in an expensive area like Orange County, this can be a problem, and may result in being ineligible for Chapter 7, but you may be eligible for Chapter 13 bankruptcy filing.  If you have questions about the Means Test, you should contact an Orange County bankruptcy attorney.

Bankruptcy Attorney in Orange County, CA

You will likely need assistance doing the "means test".  If it is done incorrectly, you can run into trouble, or could be denied the possibility of filing for bankruptcy.  The legal team at the Law Offices of Joseph M. Tosti can explain the Means Test to you and help you in correctly filling it out.  The form is six pages long and asks for a lot of financial information regarding your household income and expenses.  You can link to the test here.  It is advised that you get help from a bankruptcy lawyer when filling out the forms, as it can be difficult and confusing and it must be filled out correctly.

The legal team at the Law Offices of Joseph M. Tosti has over 25 years of experience in assisting individuals and businesses that are financially troubled.  In the current recession, there are more and more individuals who need financial help, as they got in "over their heads", not realizing that the economy was going to take such a serious downturn.  Some individuals may have gotten a sub-prime mortgage and are now in trouble.  Other clients have had a divorce, or a medical emergency that cost tens of thousands of dollars that they cannot afford to pay.  Whatever your circumstances are, a bankruptcy lawyer from the legal team at the Law Offices of Joseph M. Tosti would like to talk to you to discuss your situation and how to move forward with the means test and bankruptcy filing.

Contact an Orange County Bankruptcy Attorney from the Law Offices of Joseph M Tosti if you are considering filing for Chapter 7, Chapter 13, or Chapter 11 bankruptcy.