The means test assesses your ability to repay debts to determine eligibility for Chapter 7 bankruptcy. You automatically pass the means test if your household income is under your state's median ...

Could your debt be reduced or forgiven? Take our financial relief quiz. There is no minimum debt requirement to qualify for Chapter 7 bankruptcy, according to U.S. bankruptcy law. In most cases, it ...

Drowning in debt? Both Chapter 7 and Chapter 13 bankruptcy could offer relief, but they work very differently.

Bankruptcy law does not set a single nationwide "maximum income" that cuts you off from relief. Instead, it asks a more practical question: after you pay for basic living costs and required bills, how ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. But figuring out what counts as too much isn't as simple as checking a ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. So what determines whether you'll get approved for Chapter 7 bankruptcy?

Business Insider: Matthew Salerno, associate professor at the School of Law, said that filing for Chapter 7 bankruptcy requires precise, truthful information, as "mistakes, like missing or conflicting ...