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Means test

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Anonymous
Not applicable

Means test

I have been reading where the US Trustee has 14 days after 341 meeting to review your means test and determine if you essentially pass or fail the test. Does anyone know what they’re looking for? I passed the means test according to my lawyer

Message 1 of 5
4 REPLIES 4
FireMedic1
Community Leader
Mega Contributor

Re: Means test

Thats part of the BK before the MOC's. If you dont meet the Means Test parameters. Then a Chap7 will be a Chap13 filed by your lawyer. I had to quit my second job for months to meet the requirements. But each state has different income requirements. Welcome to the forums!


Message 2 of 5
Anonymous
Not applicable

Re: Means test

So if my chapter 7 trustee stated there is no property for distribution in pacer, am I just simply waiting my 60 days?

Message 3 of 5
FireMedic1
Community Leader
Mega Contributor

Re: Means test

Yepper. Its over. Your just waiting for your discharge and then start your rebuild. Give it a month or 2 after DC to see if you may have a score increase. Make sure all your reports say IIB and 0 balabce. And then hit up the secured cards or Cap1 if they werent burned. Congrats. Its done.


Message 4 of 5
Anonymous
Not applicable

Re: Means test

 It may be done. But I’m still very stressed and reading too much... eg; this is from the IRS website on processing Chapter 7...

 

Presumption of Abuse. In the individual Chapter 7 bankruptcy case, the U.S. Trustee is required to review all materials filed by the debtor. No later than ten days after the first meeting of creditors, the U.S. Trustee must file a statement with the court stating whether a debtor's case is a presumption of abuse of Chapter 7 under the means test. Paragraph (b) below describes the means test. The court must supply a copy of that statement to all creditors within seven days. Within 30 days of the U.S. Trustee filing a statement that the presumption of abuse arises, (s)he must file a motion for conversion or dismissal or file a statement explaining why (s)he does not think filing such a motion is appropriate. See 11 USC § 704(b)(1).

 

i will sleep better at night knowing when/if I receive that discharge paper. 

 

 

Message 5 of 5
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