Chattanooga Means Test Lawyer

When people decide that bankruptcy is the best solution for their financial troubles, they are often first confronted with the means test. A means test is not exclusionary, it simply exists to help guide individuals who really need a Chapter 7 or perhaps would be more suited for a Chapter 13 filing.

The Chattanooga means test attorneys at Kenneth C. Rannick, P.C., have guided thousands of clients through the bankruptcy process. The two most common filings are Chapter 7 and Chapter 13. Chapter 7 bankruptcy is a debt elimination program that allows individuals to completely remove unsecured debt such as credit card debt and medical bills and sometimes also to eliminate secured debt.

In order to qualify for Chapter 7, most people must pass a means test. The means test first looks at whether your debt is mostly consumer debt. Business cases bypass the means test altogether. Next, if household income falls below the median income level, one automatically passes the means test and usually qualifies for Chapter 7. If one is above the median level, one might still qualify for Chapter 7, following our conclusion of the means test. We have also been successful for some clients who failed the means test, and might normally have been unable to proceed with a Chapter 7 case, and yet we obtained their discharge, because we explained "special circumstances", unique to their case.

"Since 1988 I have filed more than 14,000 bankruptcies for clients in the Chattanooga area and helped them get out of debt. I can help you too — and do it affordably." - Kenneth Rannick

Cleveland Bankruptcy Eligibility Attorneys

The means test results separate the Chapter 7 qualifiers from the Chapter 13 qualifiers. However, even this is not set in stone. The complex factors and nuances that an experienced Tennessee lawyer can carefully examine are important. During a thorough investigation of your finances, we can provide valuable insight into how bankruptcy can work for your particular case. Bankruptcy practice is no assembly line operation. It is our job to know the technical nuances of current case law and create a means test specifically managed for you that is within the law, which can aggressively get an outcome that is better than what might otherwise be expected. We make sure to take every available deduction in your behalf. The means test is also used for some high income persons to help calculate their Chapter 13 plans. Do not hesitate to schedule a free consultation at our office to learn more about how bankruptcy can benefit you.

Contact Our Firm

If you have questions regarding the means test, contact Kenneth C. Rannick, P.C. Contact our office by calling 423-954-7180 or by simply completing the e-mail form on this website. We offer free consultations and can maintain evening or weekend appointments based on the needs of our clients.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.