2020 Best Invention

What Is the Bankruptcy Means Test in Rhode Island?

2 minute readUpsolve is a nonprofit tool that helps you file bankruptcy for free. Think TurboTax for bankruptcy. Get free education, customer support, and community. Featured in Forbes 4x and funded by institutions like Harvard University so we'll never ask you for a credit card. Explore our free tool

Written by the Upsolve Team.  
Updated September 29, 2020

The state motto of Rhode Island is simply the word “hope.” This single word holds tremendous power, especially for those hardworking Rhode Islanders who struggle to make ends meet no matter how hard they try. It can be difficult to maintain hope when no effort ever seems to be “enough” to stabilize your family’s finances. Thankfully, there are good reasons to keep on hoping. For example, there are numerous debt relief options available to individuals and families struggling to keep afloat. One of the best options for lower-income households involves filing forChapter 7 bankruptcy. This process allows you toerase most or all of your debts whilekeeping most or all of your property. To qualify for a Rhode Island bankruptcy under Chapter 7, your household earnings must fall within specificincome limits to pass the bankruptcy Means Test in Rhode Island. This test examines your household size, income, and expenses to determine if you are in a position to pay your debts over time.

Rhode Island Median Income Levels

Rhode Island Median Income Standards for Means Test for Cases Filed On or After May 1, 2021
Household SizeMonthly IncomeAnnual Income

Discharge in Bankruptcy for Rhode Island

If you pass the bankruptcy Means Test in Rhode Island, you may begin the process of seeking a Rhode Island bankruptcy discharge under Chapter 7 of the bankruptcy laws. This process is uniquely valuable for lower-income families because the Court allows debts to be erased usually without forcing filers to sell their assets for the benefit of creditors. Keeping your property while lowering your debt can allow you and your family to make a fresh financial start. By erasing credit card bills,medical debt and a host of other financial burdens, getting a discharge can lower your family’s monthly bills considerably. However, you must complete all Rhode Island bankruptcy requirements to benefit from this opportunity. 

Rhode Island Means Test Calculator

You may be wondering how to determine if you meet Chapter 7 bankruptcy eligibility requirements under the bankruptcy Means Test in Rhode Island. There is a straightforward way to explore if your specific situation allows you to file for Chapter 7 bankruptcy. You can use a Rhode Island Means Test Calculator online. This resource can tell you efficiently and effectively whether you are a potential candidate for Chapter 7 bankruptcy. However, it’s  important to know that the Means Test numbers change every so often and keep in mind that not all bankruptcy Means Test calculators are current. Many are not regularly updated, which means that they give users inaccurate information about their eligibility. Thankfully, the state-specificMeans Test calculators maintained by thenonprofit legal aid organization Upsolve are always up-to-date. You can, therefore, use these resources with confidence. Once you know whether you are eligible to file, you can make an informed decision about the best path forward for you and your family. If you have questions or would like to speak with anexperienced attorney before you come to any conclusions, you can reach out to the experienced team at Upsolve any time. 

What Happens if I Fail the Means Test for Rhode Island?

Rhode Island may only be 37 miles across from East to West, but it has a tremendous history and tremendous heart. If you fail the bankruptcy Means Test in Rhode Island, take (tremendous) heart. There are still numerous debt relief options available to you and your family. For example, you may benefit from filing a Chapter 13 bankruptcy instead. This option allows you to reorganize your debt so that it’s more manageable. It’s not always a perfect solution, but it can be life-changing and provide you with certain benefits you don’t get in a Chapter 7. It’s important to know that you can schedule a risk-free consultation with aRhode Island bankruptcy lawyer before you make any decisions. By asking an attorney any questions you may have, you can be sure that your decision is an informed one. Many attorneys even offer free consultations, so don’t hesitate to reach out for support and guidance if you could benefit from some professional assistance at this time.

Written By:

The Upsolve Team

Upsolve is fortunate to have a remarkable team of bankruptcy attorneys, as well as finance and consumer rights professionals, as contributing writers to help us keep our content up to date, informative, and helpful to everyone.

It's easy to get help

Choose one of the options below to get assistance with your bankruptcy:

Free Web App

Take our screener or read our bankruptcy F.A.Q. to see if Upsolve is right for you.

Take Screener
6,824 families have filed with Upsolve! ☆

Private Attorney

Get a free bankruptcy evaluation from an independent law firm.

Find Attorney

Upsolve is a 501(c)(3) nonprofit that started in 2016. Our mission is to help low-income families who cannot afford lawyers file bankruptcy for free, using an online web app. Spun out of Harvard Law School, our team includes lawyers, engineers, and judges. We have world-class funders that include the U.S. government, former Google CEO Eric Schmidt, and leading foundations. It's one of the greatest civil rights injustices of our time that low-income families can’t access their basic rights when they can’t afford to pay for help. Combining direct services and advocacy, we’re fighting this injustice.

To learn more, read why we started Upsolve in 2016, our reviews from past users, and our press coverage from places like the New York Times and Wall Street Journal.


Considering Bankruptcy?

Try our 100% free tool that thousands of low-income families across the country have used to file bankruptcy themselves. We are funded by Harvard University, will never ask you for a credit card, and you can stop at any time.

Get Your Fresh Start