On November 28, 2023, our new mailing and physical address will be 110 Glancy St., Ste. 109, Goodlettsville, TN 37072.

You Can Rely On Our Experienced Team To Guide You Confidently Through The Bankruptcy Process.

Do I Qualify for Bankruptcy?

In the past, bankruptcy was open to virtually anyone. Currently, though, people must pass a means test to qualify for bankruptcy. Realistically, you are considering bankruptcy because you feel as if you are stuck between a rock and a hard place. People who feel that way have real debt problems. Most qualify for bankruptcy.

Although the means test may seem simple on the surface, it is important to have an experienced attorney assist you, because the difference between being eligible for Chapter 7 or being eligible for Chapter 13, or not being eligible to file at all, can hinge on a small dollar amount. At Rothschild & Ausbrooks, PLLC, we have more than three decades of experience helping people in Goodlettsville and throughout Tennessee. We know how to handle the means test with care to ensure that you are able to obtain the debt relief you are eligible for.

What Is the Means Test?

Essentially, the means test is designed to put on paper what you already know: that after you cover the costs of living, you do not have enough income left to cover your bills.

Your income, of course, will be entered into the means test. That is the easy part. It becomes complicated and requires the assistance of experienced lawyers because of the deductions. There are standard deductions such as food and utilities. There are also itemized deductions. Because eligibility can hinge on a small dollar amount, it is important that nothing is missed in terms of deductions. We will make certain nothing is overlooked.

Chapter 7 Bankruptcy or Chapter 13 Bankruptcy?

If the means test shows that you have no income left over after you cover the costs of living, you may be eligible for Chapter 7. If the means test shows that, after you cover the costs of living, you have some amount left over that you could use to pay a portion of your debt, you may only be eligible for Chapter 13. We will educate you about the features of each of these options and guide you forward through the process.

Contact Us for a Free Bankruptcy Consultation

Please contact Rothschild & Ausbrooks, PLLC, today to learn more about the bankruptcy means test.