It’s always surprising to me when someone calls or emails and says, “Sure I make six figures but I really don’t have any money for debt repayment or debt consolidation. Can’t you just wipe it away? I want Chapter 7 bankruptcy.”
Um, not so fast. If you make over the median income for your state, household size and a whole bunch of other factors, it would not be “fair” for your debt to be wiped clean unless you can demonstrate that you truly, really, have no money to do so. This is the Means Test. And explaining how over eight grand a month is something you can barely live off of will be a trick that even Houdini would be proud of.
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