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The Nebraska Income Test and Chapter 7 Bankruptcy

The income test determines if your average monthly gross income is below the average monthly gross income for other Nebraska families of similar size. If you income is less then other Nebraska residents, you most likely will be able to file Chapter 7 Bankruptcy. If you income is above the average monthly gross income compared to other Nebraska residents, you will have to complete additional means testing.

Additional means testing will review your income minus pre-determined expenses such as your house payment, your car payment, child support payments, taxes owed, and school tuition (up to $1650). If you have a disposable income which will allow you to pay $6,000 or 100 per month toward your debt over the next sixty months, you may have to file Chapter 13 Bankruptcy. If you can not pay that much, but you could pay up to 25% of your disposable income toward your unsecured debt over the next sixty months, you may have to file Chapter 13 Bankruptcy.

State median data is provided by the United States Trustee Program. For the State of Nebraska, after March 15, 2009, the median income for a single wage earner in the state of Nebraska was $37,803 and for a family of two it was $53,453. For a family of three it was $62,814 and for a family of four it was $72,179.

The information provided above is very general and should not be considered legal advice. Means testing can be very complicated. It is important to contact a Nebraska Bankruptcy Attorney to determine if you can qualify to file Chapter 7 Bankruptcy. Our Nebraska lawyers are courteous and understanding of your situation and are eager to get you back on the right path towards financial freedom.

More Help on The Nebraska Income Test and Chapter 7 Bankruptcy

  • Nebraska Bankruptcy Information - If you are unsure of your financial future and would like to discuss the option of bankruptcy, contact a Nebraska Bankruptcy Attorney who can help you determine how to file and if filing bankruptcy is right for you. - read more

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The two most common consumer bankruptcies are Chapter 7 and Chapter 13, our sponsoring lawyers handle these types exclusively so you can be sure you are getting accurate legal advice when you file bankruptcy. Our Bankruptcy attorneys will fight to protect your rights and your property, fight the aggressive and annoying creditors for you, and they can help you keep your home, vehicles and other property.

A lawyer will be committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future. There are many convenient locations to make filing bankruptcy or learning about the alternatives we offer, even easier.

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