Bank Statement for the Bankruptcy Means Test
The means test determines whether you qualify for Chapter 7 bankruptcy or must file Chapter 13 instead, comparing your average monthly income over the prior 6 months against your state's median. Bank statements are the primary evidence your bankruptcy attorney uses to calculate that average accurately. This guide covers what to gather.
Key Benefits
- Documents 6 months of income deposits for the means test calculation
- Supports your attorney's Form 122A or 122C filing accuracy
- Helps distinguish regular income from one-time or excluded deposits
- Provides the backup trustees request if your means test is questioned
How It Works
- Step 1: Download 6 months of statements from every account receiving income as PDFs
- Step 2: Convert them to Excel with Bank Statement Converter to total monthly income precisely
- Step 3: Flag any one-time deposits (gifts, loan proceeds, tax refunds) for your attorney to exclude
- Step 4: Provide the full package to your bankruptcy attorney before the petition is filed
Frequently Asked Questions
- What is the bankruptcy means test?
- A calculation comparing your average monthly income over the prior 6 months to your state's median income for a household your size — if you're below median, you generally qualify for Chapter 7; above, you may need Chapter 13.
- Why do bank statements matter more than pay stubs for the means test?
- Statements capture all deposits, including side income, gig work, or irregular pay that pay stubs alone might miss, giving a more complete picture of actual monthly income.
- Are one-time deposits like a tax refund counted in the means test?
- Generally excluded if properly documented as non-recurring, which is exactly why bank statements need to be reviewed carefully with your attorney rather than just totaled automatically.
- What if my income is irregular month to month?
- The means test still averages the full 6-month period, so months with lower or no income can meaningfully lower your average — bank statements make that averaging accurate.
Convert Your Means Test Statements