Bankruptcy Means Test: Chapter 7 Qualification (2025)

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In this video, we discuss everything you need to know about the Chapter 7 Bankruptcy Means Test. We will also go through the Chapter 7 means test calculator to help you estimate qualification and cost of Chapter 7 bankruptcy. If the results show that you may not qualify, consider taking the Chapter 7 Above The Median Calculator: https://bit.ly/3QFdH6A.

By the end of this video, you should be fully equipped with the knowledge needed to know whether you should apply for Chapter 7 and how to do so!

The Chapter 7 bankruptcy means test data can be found on the US government website. The means test based on household size, median income, and state is updated about every 6 months. You can use this average income calculator to help estimate your income: https://bit.ly/3clx6pB

The first part of the Chapter 7 bankruptcy means test is based on this bankruptcy form (https://www.uscourts.gov/forms/means-...) and considers your income based on the Chapter 7 means test data.

The second part of the Chapter 7 bankruptcy means test is based on this bankruptcy form (https://www.uscourts.gov/forms/means-.... If you make more income than the median income for your state and household size, you may want to take the above-median Chapter 7 bankruptcy calculator to estimate whether you may still qualify.

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The Chapter 7 bankruptcy means test can feel like a confusing wall of numbers. But in this video, Ben from Ascend Finance breaks down: how the means test works, why it matters, and how to figure out if you qualify for a Chapter 7 bankruptcy. You’ll see exactly how gross income, state median income, and allowable expenses all come into play - without wading through complicated legal jargon.

Watch as we go step-by-step through the free Chapter 7 calculator to estimate qualification, compare costs, and see how Chapter 7 stacks up against Chapter 13, debt settlement, and debt management. If you’ve ever wondered how people get out of debt in as little as 90 to 120 days, or whether your income is too high to qualify, this walkthrough will help clarify your options.

Stay until the end for next steps and tips to understand your debt relief choices, plus how to get a free complimentary consultation without pressure or hidden fees.

Chapters:
0:00 Intro
0:40 Chapters
0:53 Video Overview
1:12 What is the Bankruptcy Means Test?
4:23 Take Means Test Calculator
11:31 Understand Results
16:15 Next Steps

At Ascend, we are dedicated to making debt freedom cheaper, easier, and faster.

This video is made purely for informational and educational purposes and should not be construed as legal or financial advice.

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Website: https://tryascend.com/

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