Cincinnati Lawyers Helping People Determine if They Are Eligible for the Bankruptcy Means Test

Ohio Bankruptcy Eligibility Law Firm

As you may know, there were major changes to the bankruptcy laws in 2005. When these laws changed, many people thought that bankruptcy would no longer be an option. The fact is, bankruptcy is still a viable option for people who are living with crushing debt burdens. We are the law firm of Minnillo & Jenkins, CO. LPA. With locations in Cincinnati, our attorneys help people in financial distress through the bankruptcy process.

Of the many changes to the bankruptcy laws, perhaps the biggest change was the means test. Under the means test, if you wish to file Chapter 7 bankruptcy, your household income must be less than the median income for a household of the same size. The current median incomes in Ohio are as follows:

One PersonTwo PeopleThree PeopleFour or More People
$40,739$51,319$60,247$72,625

Add $7,500 for each additional person in your household. If your income level is under this threshold, you are eligible to file Chapter 7 bankruptcy. If your income is over this level, there is an additional test to determine whether you qualify for debt relief under Chapter 7. Under this test, if your disposable income is lower than a certain level, you will also be eligible to file Chapter 7 bankruptcy.

It is important to understand that even if you do not pass the means test, you can still file bankruptcy under Chapter 13. While Chapter 13 requires you to repay your debts over a three- to five-year period, it offers many of the same advantages of Chapter 7.

Contact the Cincinnati Bankruptcy Means Test Lawyers of Minnillo & Jenkins

Our law firm is serious about helping people get the debt relief they need. To get started, call our Cincinnati office at 513-723-1600 to schedule a free initial consultation. You can also e-mail us.

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