What is the means test in bankruptcy?
Business Insider: Matthew Salerno, assistant professor at the School of Law, outlined the contours of the bankruptcy means test, which evaluates someone’s finances to determine if they qualify for assistance. “Deciding whether to file for bankruptcy and what type of bankruptcy to file are serious considerations,” he said. “Successfully completing a Chapter 7 bankruptcy can provide much-needed debt relief, but the Chapter 7 bankruptcy can remain on a credit report for up to 10 years.”