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Means Test for Business Chap 7

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    Means Test for Business Chap 7

    professorkev, can you tell me if you need to pass the means test in order to qualify for a business chaper 7 discharge?
    Good luck with your upcoming 341 hearing.

    #2
    Welcome to BKforum, tongle!

    I moved your post to it's own thread. Starting a new thread will more likely get a response than tagging your question onto an existing thread.

    If more than 50% of your debt is non-consumer debt, then you do not have to pass the means test.
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

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      #3
      Ladyinthered
      Awesome, thank you for your reply, I got the wrong info from from laywer (no surprise there).

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        #4
        Be careful. . . its more than 50% of ALL of your debt. Some folks forget to include in the calculation their mortgage(s) and vehicle loans.

        Des.

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