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Means Test

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Means Test in Lufkin, TX

Bankruptcy Lawyers in Angelina County

At the Law Offices of W. David Stephens in Lufkin, Texas, we understand that financial difficulties can happen to anyone. If you are struggling to pay your bills and are considering bankruptcy, we can help you determine if you are eligible for Chapter 7 bankruptcy through a means test.

What is a Means Test?

A means test is a calculation used to determine if your income is low enough to file for Chapter 7 bankruptcy. Chapter 7 bankruptcy is a form of debt relief that allows you to discharge most of your unsecured debts, such as credit card debt and medical bills. However, not everyone is eligible for Chapter 7 bankruptcy, and the means test helps determine if you meet the income requirements.

How Does the Means Test Work?

The means test compares your household income to the median income in your state for a household of your size. If your income is below the median income, you automatically qualify for Chapter 7 bankruptcy. If your income is above the median income, you will need to complete a more detailed means test to determine if you qualify for Chapter 7 bankruptcy.

Why is the Means Test Important?

The means test is important because it determines your eligibility for Chapter 7 bankruptcy. If you do not pass the means test, you may still be eligible for Chapter 13 bankruptcy, which allows you to reorganize your debts into a payment plan. However, Chapter 13 bankruptcy requires you to make regular payments over a period of three to five years, which may not be feasible for everyone.

How We Can Help

At the Law Offices of W. David Stephens, we can help you complete the means test accurately and thoroughly. We have years of experience helping clients in Lufkin and the surrounding areas file for bankruptcy and get a fresh start. We understand that this is a difficult time for you, and we will work tirelessly to help you achieve the best possible outcome.

Contact Our Angelina County Bankruptcy Lawyer

If you are struggling with debt and need help determining if you are eligible for Chapter 7 bankruptcy, contact the Law Offices of W. David Stephens today. We offer a free consultation to discuss your situation and help you understand your options.

Call us at (936) 298-5388 or fill out our online contact form to schedule an appointment with our Angelina County bankruptcy attorney.

  • "We tried so hard to make it and ran into trouble. Coming to you was the right thing to do. You and all your people were so kind and good to us. We felt "yes" we could hold on. All of you gave us back that hope."
    Harold & Mary M.
  • "My Aunt needed help filing for bankruptcy. She is 73. He took the time to explain everything, so she completely understood the process. He was always quick to respond to my emails with any questions we had."
    Debbi S.
  • "Mr. Stephens helped us in one of the most stressful times we’ve ever dealt with in life. Every time I left his office, I felt refreshed. Where I thought there was no hope, hope was always found."
    Brandon A.
  • W. David  Stephens Photo
    W. David Stephens

    "In the mid-1990s, I became so overwhelmed with the volume of new bankruptcy clients that I had to give up my trial practice to concentrate full-time as a bankruptcy lawyer. I have exclusively concentrated on consumer and business bankruptcy cases since that time.
    I was awarded a Board Certification in Consumer Bankruptcy Law by the Texas Board of Legal Specialization in 2001, and I have been so certified ever since."

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