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Tute the schedule of assets and liabilities. Schedules I and J constitute a schedule of current income and current expenditures for individual and joint debtors. Two new schedules have been created, Schedule G - Executory Contracts and Unexpired Leases, and Schedule H - Codebtors. The order of the schedules has been arranged with the summary sheet in front and with the schedules of assets appearing first, followed by the schedules of liabilities. This structure corresponds to the customary patte.

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How to fill out the Means Test B form - Uscourts online

This guide provides clear and comprehensive instructions for completing the Means Test B form online. Designed for individuals with varying levels of legal experience, the following steps will help you effectively fill out the necessary sections of the form.

Follow the steps to complete the Means Test B form online:

  1. Click ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin by filling out Schedule A - Real Property. List all properties owned, excluding leasehold interests, which should be recorded on Schedule G.
  3. Proceed to Schedule B - Personal Property. Ensure to include all interests in personal property, detailing assets in new categories like aircraft and retirement accounts.
  4. Complete Schedule C - Property Claimed as Exempt. State the market value of the property claimed as exempt in addition to the exemption amount.
  5. Continue to Schedule D - Creditors Holding Secured Claims by listing all secured debts and indicating any disputes or contingent claims.
  6. Fill out Schedule E - Creditors Holding Unsecured Priority Claims by noting all types of priority claims and their amounts.
  7. Complete Schedule F - Creditors Holding Unsecured Nonpriority Claims by providing details of all nonpriority debts.
  8. Report all unexpired leases and executory contracts on Schedule G, ensuring all necessary lease information is disclosed.
  9. Use Schedule H - Codebtors to provide information about any codebtors associated with your debts.
  10. Proceed to Schedule I - Current Income, detailing all sources of income, including that of a nondebtor spouse, if applicable.
  11. Finally, complete Schedule J - Current Expenditures by itemizing current monthly expenses. Ensure that anticipated changes in expenses for the upcoming year are noted.
  12. Once you have filled out all the sections, review the information for completeness and accuracy before saving the changes, downloading, printing, or sharing the form.

Complete your Means Test B form online today to ensure a smooth filing process.

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You'll need to fill out your gross wages, which you should be able to find on your paystubs from the previous six months. Make sure you use the gross amount (before taxes and deductions). You'll also need to list any other types of income you receive.

Most people pass the means test simply because their “current monthly income” is low enough. If your “current monthly income” is no more than the specific dollar amount that is applicable to your state and size of family, then you do not need to go through the much more complicated expenses side of the test.

The means test compares a debtor's income for the previous six months to what he or she owes on debts. If a person has enough money coming in to gradually pay down debts, the bankruptcy judge is unlikely to allow a Chapter 7 discharge.

If it changed shortly after your case was filed, wait for the creditors' meeting and let the trustee know during the meeting that your income has changed. Depending on how much it changed, they may say don't worry about it or request that you file updated forms.

The means test is calculated by comparing the debtor's average income for the past six months (current monthly income), annualized, to the median income for households of the same size in the debtor's state of residence.

The full Means Test compares the debtor's income to their expenses to determine whether they should benefit from Chapter 7 relief based on their “disposable income.” Applying the Means Test involves deducting all household expenses from the debtor's gross income, including housing costs, utilities, medical expenses, ...

You can earn a high income and still pass the means test if you have substantial expenses like a hefty mortgage, multiple car payments, taxes, childcare, health care, or care of an elderly or disabled person. However, if your disposable income is more than a certain sum, you will not be able to file.

Calculation of Current Monthly Income: To begin the means test, debtors calculate their current monthly income, which equates to twice the gross income earned in the six months leading up to the bankruptcy filing.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232