When you’re considering Chapter 7 bankruptcy, one of the first questions is whether you meet New Jersey’s income require...

When you’re considering Chapter 7 bankruptcy, one of the first questions is whether you meet New Jersey’s income requirements. Eligibility is often determined by the means test, which uses a six-month income lookback and compares it to New Jersey’s median income guidelines for the applicable filing period. If your average income over the six months before filing falls below these thresholds, you generally qualify without additional analysis. If your income exceeds the median, you may still qualify by passing the means test, which evaluates your disposable income after allowable living expenses.
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