What is a means test?

Is income worksheet/calculator that determines based if you qualify for chapter 7 bankruptcy. The income limitations are based on your state median family income. The means test form calculates your annual income and puts you on a budget based on IRS collection standards. If your means test shows you have too much disposable income, you … Continue reading “What is a means test?”

What about my retirement investments?

IRS, 401ks and cash value of life insurance is exempt in Florida and cannot be taken by the trustee. If you are considering filing for bankruptcy, I suggest consulting with an experienced bankruptcy attorney.

What does exempt mean?

Exempt means the asset is protected and will not be sold to pay your creditors. If you are considering filing for bankruptcy, I suggest consulting with an experienced bankruptcy attorney.