As summer approaches, the effects of the COVID-19 pandemic continue, albeit somewhat tempered by the fact that vaccinations are occurring throughout Utah. Part of the stimulus package offered by the CARES Act continues to provide relief to those who file for bankruptcy. Initiating a bankruptcy case is typically done electronically online. As a result, the pandemic has not affected this process in any way.
Once you decide that filing bankruptcy is your best option, what is your next move? Filing a Chapter 7 bankruptcy case in Utah this summer requires that you complete the “Means Test” to determine whether you are eligible to file a Chapter 7 case. The first part of this test considers your gross income for the size of your household. If your current monthly income is below the threshold median income level for a household of your size in Utah, then you immediately qualify to file a Chapter 7 bankruptcy case. Below are Utah’s monthly and annual income levels for household sizes ranging from one person to ten persons.
If your current monthly income is above the median income, you may still qualify by completing the second part of the Means Test. This part considers your monthly expenses as a way of determining your disposable income, which is the amount that you have in your pocket after paying all your expenses each month. If there is little or no disposable income remaining at the end of the month after making this calculation, you are eligible to file a Chapter 7 case. The Morrison Law Group can help you make the calculations required by the Means Test to ensure that you get every chance possible to prove eligibility to file a Chapter 7 bankruptcy case.
Utah Median Income Levels
|Utah Median Income Standards for Means Test for Cases Filed on or After May 1, 2021|
|Household Size||Monthly Income||Annual Income|
The Morrison Law Group has remained open throughout the pandemic to serve the residents of the state of Utah. We have maintained our professional commitment to past, present, and future clients. In the summer of 2021, bankruptcy remains a sensible and effective option for any Utah resident to obtain a financial fresh start. To discuss and determine your options for filing bankruptcy, contact the experienced attorneys at the Morrison Law Group. Call 801.456.9933 today to schedule a FREE consultation. We have locations in Ogden, Logan, Sandy, Orem, and St. George to serve the residents of the counties of Weber, Cache, Salt Lake, Utah, Morgan, Davis, Washington, and surrounding areas.