Means Test Chapter 13

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While Chapter 13 bankruptcy also makes use of a means test, it is not an eligibility test as it is under Chapter 7, nor is the benefits – such as stopping foreclosure – dependent on passing the means test. Rather, the Chapter 13 means test affects the type and duration of the payment plan under the Chapter 13 bankruptcy.

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High-income filers who fail the means test can use Chapter 13 bankruptcy to repay a portion of their debts, but won’t be able to use Chapter 7 bankruptcy to wipe out their debts altogether. However, having to take the Chapter 7 means test doesn’t mean that you must be penniless to use Chapter 7 bankruptcy.

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Chapter 13 bankruptcy is one of two types of bankruptcy most often filed by individuals (the other is Chapter 7 bankruptcy). The main difference between a Chapter 13 bankruptcy and a Chapter 7 case is that in a Chapter 13 bankruptcy, a filer must pay all or a portion of debt over a three- to five-year period through a repayment plan.

If your income is higher than the Washington median you will need to complete the means test calculation to determine if you can pay back a portion of your unsecured debts through a Chapter 13 bankruptcy. Means Test Exemptions. If your debts are not primarily consumer debts then you are exempt from the means test.

Form 122A-2 is the form certain chapter 7 debtors will complete and the multiplier is entered on Line 36; Form 122C-2 is the form certain chapter 13 debtors will complete and the multiplier is entered on Line 36. Schedules of Actual Administrative Expenses of Administering a chapter 13 plan (as Required by 11 U.S.C. 707(b)(2)(A)(ii)(III))

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