If you make less than the Amount in the below chart for your household size, you should qualify to file a chapter 7 bankruptcy. If you make more, you still may qualify you should discuss your options with an attoreny.  Every State is Different we have only included the Means Test for NJ and the Means Test for NY as we only file bankruptcy it those states for clients. 

New Jersey Chapter 7 Means Test – Every State is Different

Household SizeMonthly IncomeAnnual Income
1$5,808.75$69,705.00
2$6,978.25$83,739.00
3$8,887.50$106,650.00
4$10,944.25$131,331.00
5$11,694.25$140,331.00

New York Chapter 7 Means Test

Household SizeMonthly IncomeAnnual Income
1$4,761.42$57,137.00
2$6,053.50$72,642.00
3$7,353.33$88,240.00
4$8,962.50$107,550.00
5$9,712.50$116,550.00

Quick Chapter 7 Meams Test – First Prong

Quick Chapter 7 Meams Test – First Prong

If your household is greater than 5 people, add $9000 for each person over 5 in your household. The number of people in your household is not necessarily the number of people on your Tax Return.
If you have any questions, please call us at 844-533-3367 or enter your question and email below.

If your household makes more money than the number above, you still may qualify for a chapter 7 bankruptcy:
1. Under the second prong of the means test;
2. You are a veteran, or;
3. The majority of your income is non-consumer debt. (Business debt, Medical Debt, or even possibly Student Loan Debt.)

Filing Bankruptcy Has Long Term Financial Consequences. Bankruptcy Fraud can lead to Imprisonment and Fines. Talk to an attorney before you take any steps.