{"id":1732,"date":"2021-04-19T22:54:02","date_gmt":"2021-04-19T22:54:02","guid":{"rendered":"https:\/\/westbrooklawgroup.com\/?page_id=1732"},"modified":"2023-01-18T05:48:50","modified_gmt":"2023-01-18T10:48:50","slug":"missouri-bankruptcy-means-test","status":"publish","type":"page","link":"https:\/\/westbrooklawgroup.com\/missouri-bankruptcy-means-test\/","title":{"rendered":"Missouri Bankruptcy Means Test"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1732\" class=\"elementor elementor-1732\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-52cfa0b5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"52cfa0b5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-448c102a\" data-id=\"448c102a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-94568e8 elementor-widget elementor-widget-heading\" data-id=\"94568e8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">What Is the Bankruptcy Means Test?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d644511 elementor-widget elementor-widget-text-editor\" data-id=\"d644511\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>If you are just exploring bankruptcy options, you may be overwhelmed by information and not even be able to determine if you can or should file for Chapter 7 or <a href=\"\/chapter-13\/\">Chapter 13 bankruptcy<\/a>.<\/p><p>When <a href=\"\/chapter-7\/\">filing Chapter 7 bankruptcy<\/a>, one of the first tests a person will need to pass is the means test. This test looks at monthly income and assets and checks for bankruptcy abuse. If the trustee feels that a person has the means to pay back his or her creditors, they will reject the Chapter 7 for potential abuse. Many think that a means test will automatically force them into filing for Chapter 13 or may prevent them from filing altogether, but that is not necessarily the case.<\/p><p>The test was created in an effort of holding those who could pay off their debts through Chapter 13 bankruptcy responsible for paying at least part of their debts. Some approach the test with anxiety, but it is a necessary step in the process. It is beneficial to have someone with experience guide you through it.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8892061 elementor-widget elementor-widget-button\" data-id=\"8892061\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"\/contact\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Contact Us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-58c0d84 elementor-widget elementor-widget-heading\" data-id=\"58c0d84\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What Components Go Into the Means Test?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8fabf0d elementor-widget elementor-widget-text-editor\" data-id=\"8fabf0d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Current Monthly Income<\/strong> \u2013 You need to determine your current monthly income. This is not your current income, but the average of your income over a period of time. You would calculate your average monthly income over a 6-month period.<\/p><p><strong>Your State Median<\/strong> \u2013 You will need to know your state\u2019s median family income. The state median amounts change frequently so it is important to make sure you have the latest figures. Anyone with an income higher than the state median must take the means test unless they fall into an exception category.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9144e17 elementor-widget elementor-widget-heading\" data-id=\"9144e17\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What Happens If You Fail the Chapter 7 Means Test?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2eaf4bf elementor-widget elementor-widget-text-editor\" data-id=\"2eaf4bf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Once you have your current monthly income minus your allowable expense you get what disposable income you have available to pay off debts. If you have enough in the courts\u2019 eyes, you will not be able to <a href=\"\/chapter-7\/when-should-i-file-for-bankruptcy\/\">file for Chapter 7 bankruptcy<\/a>.<\/p><p>If your income falls below the median income, you can file for Chapter 7 bankruptcy, but that doesn&#8217;t necessarily mean you should. It is in your best interest to work with the experts at Westbrook Law Group to help sort out your financial situations and get moving on a better path. Call today for your free consultation.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-049f1d5 elementor-widget elementor-widget-heading\" data-id=\"049f1d5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What Is the \u201cTotality of the Circumstances\u201d Test?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-397425a elementor-widget elementor-widget-text-editor\" data-id=\"397425a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><a href=\"https:\/\/westbrooklawgroup.com\/wp-content\/uploads\/2021\/10\/file-for-bankruptcy.webp\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignright size-medium wp-image-4146\" src=\"https:\/\/westbrooklawgroup.com\/wp-content\/uploads\/2021\/10\/file-for-bankruptcy-300x300.webp\" alt=\"File for Bankruptcy\" width=\"300\" height=\"300\" srcset=\"https:\/\/westbrooklawgroup.com\/wp-content\/uploads\/2021\/10\/file-for-bankruptcy-300x300.webp 300w, https:\/\/westbrooklawgroup.com\/wp-content\/uploads\/2021\/10\/file-for-bankruptcy-150x150.webp 150w, https:\/\/westbrooklawgroup.com\/wp-content\/uploads\/2021\/10\/file-for-bankruptcy.webp 458w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>An additional test is the \u201ctotality of the circumstances,\u201d which seeks to identify any further abuse. If the trustee finds that, based on your circumstances, you should be able to repay at least a portion of the debt, we may not be able to file Chapter 7 for you.<\/p><p>There is not a set formula for determining whether a person will pass or fail the totality of the circumstances test, unlike the means test. Here, the trustee will look at the following:<\/p><ul><li>Income<\/li><li>Assets<\/li><li>Expenditures<\/li><li>Obligations such as child support or spousal support<\/li><\/ul><p>For instance, if the court finds that your disposable income falls below the threshold for the means test, but you are paying $2,500 a month in rent, they may determine that this amount is unreasonable and reject your <a href=\"https:\/\/westbrooklawgroup.com\/chapter-7\/\">Chapter 7<\/a> filing. Likewise, if your monthly income over the past six months is low, but you have just started a new job that pays substantially more than the median income, the trustee may find this abuses the bankruptcy process. Westbrook Law Group can examine your circumstances and identify any potential issues with your Chapter 7.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-215a0b6 elementor-widget elementor-widget-shortcode\" data-id=\"215a0b6\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\">\t\t<div data-elementor-type=\"section\" data-elementor-id=\"3747\" class=\"elementor elementor-3747\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-727ac5a7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"727ac5a7\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2703f1ef\" data-id=\"2703f1ef\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-287bc064 elementor-widget elementor-widget-heading\" data-id=\"287bc064\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Call today for a Free Consultation<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-501d68a6 elementor-widget elementor-widget-text-editor\" data-id=\"501d68a6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>When you&#8217;re in debt, it&#8217;s difficult to focus on anything else. But there are steps that you can take to get out of debt &#8211; even if your credit is damaged or your income has been cut off completely! Call our St. Charles bankruptcy attorneys at Westbrook Law Group to find out how to escape the shackles of debt and get relief in Missouri.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f4068bc elementor-mobile-align-center elementor-align-center elementor-widget elementor-widget-button\" data-id=\"7f4068bc\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"tel:6362450469\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon elementor-align-icon-left\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-phone-alt\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">CALL US NOW - 636-245-0469<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ad33e3c elementor-widget elementor-widget-heading\" data-id=\"ad33e3c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Learn More About the Bankruptcy Means Test In Missouri<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-16a52a5 elementor-widget elementor-widget-text-editor\" data-id=\"16a52a5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Even if you can\u2019t file Chapter 7, options exist to get your debt under control. At The Westbrook Law Group, we will work to find the best option possible for your debt management needs. We will help you get the fresh start you need after bankruptcy and help you get life back on track. If you need help with overwhelming debt, contact us today for a free consultation.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1b28998 elementor-widget elementor-widget-button\" data-id=\"1b28998\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"\/contact\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Contact Us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-728ad18 elementor-widget elementor-widget-heading\" data-id=\"728ad18\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Learn More About the Bankruptcy Means Test In Missouri<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3fd10fc elementor-widget elementor-widget-text-editor\" data-id=\"3fd10fc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span class=\"section-review-text\">\u201cWhen I tell you one of the best bankruptcy attorney office I have ever encountered, they were very professional, kept me informed of everything.\u201d<\/span><\/p><p>Lucretia Chissem<br \/>Rating 5\/5 \u2b50\u2b50\u2b50\u2b50\u2b50<br \/>And see more of our 152+ Reviews on <a href=\"https:\/\/www.google.com\/maps?cid=4241849566142313217\">Google<\/a>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>What Is the Bankruptcy Means Test? If you are just exploring bankruptcy options, you may be overwhelmed by information and not even be able to determine if you can or should file for Chapter 7 or Chapter 13 bankruptcy. When filing Chapter 7 bankruptcy, one of the first tests a person will need to pass [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"_links":{"self":[{"href":"https:\/\/westbrooklawgroup.com\/wp-json\/wp\/v2\/pages\/1732"}],"collection":[{"href":"https:\/\/westbrooklawgroup.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/westbrooklawgroup.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/westbrooklawgroup.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/westbrooklawgroup.com\/wp-json\/wp\/v2\/comments?post=1732"}],"version-history":[{"count":10,"href":"https:\/\/westbrooklawgroup.com\/wp-json\/wp\/v2\/pages\/1732\/revisions"}],"predecessor-version":[{"id":5787,"href":"https:\/\/westbrooklawgroup.com\/wp-json\/wp\/v2\/pages\/1732\/revisions\/5787"}],"wp:attachment":[{"href":"https:\/\/westbrooklawgroup.com\/wp-json\/wp\/v2\/media?parent=1732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}