{"id":2927,"date":"2017-06-06T16:59:00","date_gmt":"2017-06-06T16:59:00","guid":{"rendered":"https:\/\/mcintirelaw.com\/?page_id=2927"},"modified":"2023-05-05T00:42:43","modified_gmt":"2023-05-05T00:42:43","slug":"west-virginia-chapter-7-means-test","status":"publish","type":"page","link":"https:\/\/mcintirelaw.com\/west-virginia-chapter-7-means-test\/","title":{"rendered":"Wheeling Chapter 7 Means Test"},"content":{"rendered":"

\"meansHow Does the Chapter 7 Means Test Work?<\/h2>\n

Before you file for bankruptcy, you need to take the means test. This will determine which bankruptcy chapter you are eligible for. If you pass the test, you can file a Chapter 7 bankruptcy<\/a>; however, if you do not pass, you have the option of filing a Chapter 13 bankruptcy<\/a>. It\u2019s important that your means test be accurately calculated so that you know which chapter to file.<\/p>\n

There are two types of personal bankruptcy: Chapter 7 and Chapter 13. Under Chapter 7, most of your property and assets are liquidated by a bankruptcy trustee. The proceeds are then used to pay your debts and most of your remaining debt is discharged. Chapter 7 bankruptcies are typically completed in several months. On the other hand, Chapter 13 bankruptcy allows you to repay your debt over several months and will allow you to keep most of your assets. If you aren’t sure which form of bankruptcy is best for you, contact an experienced Wheeling bankruptcy lawyer<\/a>.<\/p>\n

Means Test Exemptions<\/h2>\n

Not everyone must complete a full means test analysis. For example, you are exempt from the Chapter 7 means test if:<\/p>\n