Bankruptcy is a legal proceeding filed in the United States Bankruptcy Court that permits you to obtain a discharge of your obligation to pay certain debts. The bankruptcy laws are intended to allow an honest but unfortunate debtor an opportunity to get a “fresh start”.

Where to Start

If you decide to file for bankruptcy, you should talk with your attorney to determine whether you should file under Chapter 7 or Chapter 13 and whether the means test will affect your eligibility to file under Chapter 7. If you file a Chapter 7 bankruptcy petition, you will also be required to submit a Statement of Current Monthly Income and Means Test Calculation on a standard form specified by the Bankruptcy Court.