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The bankruptcy means test determines who can file for debt forgiveness through Chapter 7 bankruptcy. It takes into account your income, expenses and family size to determine whether you have enough ...

Business Insider: Matthew Salerno, assistant professor at the School of Law, outlined the contours of the bankruptcy means test, which evaluates someone's finances to determine if they qualify for ...

Filing Chapter 7 bankruptcy is a serious financial decision for individuals who have large amounts of debt they likely won’t ever be able to repay. Though filing for Chapter 7 ultimately gives you a ...

Americans are in a tough spot right now when it comes to debt. According to the latest Household Debt and Credit Report, the total household debt hit $18.2 trillion in Q1 2025, and credit card ...

You might be able to negotiate debt settlement with your lender, either by yourself or with the help of a credit counselor or ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. But while pursuing this type of debt relief can be a smart move in ...

Corporations, limited liability companies (LLCs), and other businesses can file for protection under either Chapter 7 or Chapter 11 of the Bankruptcy Code. While a Chapter 11 bankruptcy can lead to ...

Elysse Bell is a finance and business writer for Investopedia. She writes about small business, personal finance, technology, and more. Vikki Velasquez is a researcher and writer who has managed, ...

The bankruptcy means test determines whether you're eligible for Chapter 7 bankruptcy. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...