What Is the Bankruptcy Means Test in Vermont?

3,722 families have filed bankruptcy using Upsolve. Learn More.

Written by the Upsolve Team.  
Updated July 31, 2019

Residents of the Green Mountain State are generally not a materialistic bunch. As the state motto of "Freedom and Unity" suggests, Vermonters are primarily concerned with enjoying the benefits that liberty provides and making sure everyone else can do the same. However, living in Vermont doesn't free families from all material concerns, even if gaining wealth is not a family's primary goal. When families struggle to make ends meet, it affects all areas of life. Therefore, you need to know that effective debt relief options are available if your family has fallen on hard times. If you are a member of alower-income household, you may benefit most significantly by filing forChapter 7 bankruptcy. If your income and expenses meet certain standards set by the bankruptcy Means Test in Vermont, you may be able toerase your eligible debt while maintainingownership of your personal property.

Vermont Median Income Levels

Vermont Median Income Standards for Means Test for Cases Filed On or After May 1, 2020
Household SizeMonthly IncomeAnnual Income
1$4,821.58$57,859.00
2$6,300.17$75,602.00
3$6,807.17$81,686.00
4$8,635.58$103,627.00
5$9,385.58$112,627.00
6$10,135.58$121,627.00
7$10,885.58$130,627.00
8$11,635.58$139,627.00
9$12,385.58$148,627.00
10$13,135.58$157,627.00

Discharge in Bankruptcy for Vermont

When an eligible person file a Vermont bankruptcy and completeseach step of the process, they qualify for a Vermont bankruptcy discharge. “Discharge” is another way of saying that a person’s eligible debts are erased by a Court order. If you are granted a discharge, affected creditors will no longer be allowed to harass you or even request payment for your outstanding debts. Instead, your debt will be effectively canceled. This will free you and your family to focus on both your immediate financial needs and on building a solid financial future. It is for this reason that a Vermont bankruptcy can be life-changing.

↑ Back to top
Fresh Start Diaries
"I'm going to be honest with you, pre-bankruptcy my credit score went down to a 543. My score today is a 720. With the help of Upsolve, I feel free again. I have the ability to build myself into something new."
I filed with Upsolve. Read my story →

Vermont Means Test Calculator

If you are wondering whether you are eligible to file for bankruptcy, there is a straightforward resource designed to help you answer this question. You can access a free Vermont Means Test calculator online. This tool will allow you to examine whether the size of your household, your income, and your expenses make you eligible for a bankruptcy discharge. It’s important to make sure that the calculator you access is accurate, as incorrect information will not allow you to make an informed decision about your Vermont bankruptcy options. Consider using theVermont Means Test calculator maintained by Upsolve. This nonprofit organization makes sure that each of its state-specific Means calculators is up-to-date. Not every online Vermont Means Test calculator is appropriately updated when standards change, so it’s important to use a calculator you know you can trust. If you pass the Chapter 7 Means Test, you can file your Chapter 7 bankruptcy with confidence.

↑ Back to top

What Happens if I Fail the Means Test for Vermont?

If you have failed the Chapter 7 Means Test, please don’t panic. Debt relief alternatives can still help you get back to enjoying the way life in Vermont was meant to be lived. You may benefit from speaking with an attorney about the bankruptcy Means Test in Vermont as applied toChapter 13 bankruptcy. In this context, a Means Test would help you to determine what you would need to pay to creditors over 3-5 years before receiving a discharge order. In the meantime, your monthly debt payments would go down significantly and you would stop incurring penalties for overdue payments. To learn more about the process offiling bankruptcy in Vermont, consider speaking with anexperienced attorney. Many bankruptcy lawyers offer free consultations. These meetings are always risk-free, because speaking with an attorney will not commit you to filing a legal action of any kind or to hiring that attorney if you don't want to.

↑ Back to top
About the author

It's easy to get help

Choose one of the options below to get assistance with your bankruptcy:
Page 1Created with Sketch.

Free Web App

Take our bankruptcy screener to see if you're a fit for Upsolve's free web app!

Take Screener
3722 families have filed with Upsolve! ☆
OR

Private Attorney

Get a free bankruptcy evaluation from an independent law firm.

Find Attorney
2648 people found attorneys this month

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.

Close

Considering Bankruptcy?

Are you interested in erasing your debt with our free self-service bankruptcy tool?


Not interested in our tool or confused? Can you let us why so we can improve?

Get Your Fresh Start