To qualify for Chapter 7 bankruptcy, you must pass a means test, which considers your income, expenses, household size, and debt, as well as other factors. You determine your income by multiplying your gross income for the last six months by 2. If your income is less than the median income for a household of the same size in Texas, then you are likely to pass the means test. Waiting to file might be a good idea if your income is forecast to decline over the next few months, but you cannot pass the means test right now.
After May 1, 2022, the median income levels in Texas to qualify are:
| Household Size | Median Income |
| 1 Person | $52,953 |
| 2 People | $71,287 |
| 3 People | $77,110 |
| 4 People | $89,196 |
| 5 People | $ 98,196 |
While income is the most important factor, it is not the only factor. If you earn more than the median income for a household of your size, you may qualify for Chapter 7 bankruptcy. Call our Houston bankruptcy attorney office today to find out if you qualify for fast debt relief.