New Bankruptcy Means Test And Income Numbers for 2026: What Florida Chapter 7 Filers Need to Know

Chapter 7 Bankruptcy has long been a vital tool for American debtors seeking a fresh financial start, but it has never been available to just anyone. To qualify, you must meet certain income and wealth criteria, notably the means test. This article explains the recent changes to Florida’s Chapter 7 bankruptcy means test and what they mean for those seeking debt relief:

• What has changed so far in 2026 and what changes we can expect throughout the year.
• How income and other factors, like household size, can factor into Chapter 7 eligibility in Florida.
• When is the best time for you to file for bankruptcy, and why it might not be when you think.

What Changed With The Bankruptcy Means Test In 2026?

Fortunately, this year’s changes were not especially dramatic. The eligibility ceiling usually increases a bit each year to keep up with inflation, making it easier for people to qualify. Additionally, there are a few more allowances for small items or exemptions here and there. Keep in mind, however, that the means test changes again in October, as it changes twice a year.

While the change is positive and might give a slight increase that helps people on the cusp get there, it hasn’t brought any big, far-reaching changes so far this year.

When Did The Newest 2026 Bankruptcy Means-Test Figures Take Effect?

The latest update was on April 15th. At our firm, we use excellent software that alerts us to changes to the means test or income thresholds and automatically applies them to new cases to ensure we are always up to date, even when there are unexpected changes.

What Income Is Included When Calculating Current Monthly Income?

Your normal W-2 or 1099 wages are the base documents for calculating income if you are an employee. If you own a business, your gross business income minus your business expenses determines your net income. If you receive a pension, or if you have a side hustle or job on the side, those should be factored into your W-2 and 1099.

If you take out money from a 401(k), not as a loan, but as a disbursement, that is income which counts as well. Technically, if you’re receiving any regular payments, let’s say from a family member or certain kinds of trusts, that often counts as income as well, depending upon how it is used.
Calculating this accurately matters, because the applicable median income is essential to the Chapter 7 bankruptcy process.

What Happens If My Income Is Above Florida’s Applicable Median?

If you are above the median income, then you have to go through the means test to have any chance of qualifying for Chapter 7, unless you have a specific circumstance that would override that requirement.

Attorney Alec Solomita, Esq is a seasoned Florida bankruptcy lawyer who has helped countless clients just like you navigate the filing process for Chapter 7 bankruptcy. With over a decade at the head of his own bankruptcy-focused law firm, he is ideally suited to help you find the debt relief and fresh financial start you need.

Still have questions about which chapter of bankruptcy you qualify for? Ready to get started on the path to debt relief? Contact Solomita Law, PLLC today to schedule an initial consultation.

How Does Household Size Affect The Bankruptcy Means Test In Florida?

The more people there are in your household, the easier it is to qualify for Chapter 7 bankruptcy under the Florida means test.

Could Waiting To File Change My Chapter 7 Eligibility?

Yes, I have seen waiting change eligibility in both directions. Sometimes waiting to file could be a good thing; other times, it could be detrimental. Let’s say you are a seasonal worker.

• If you just came off your busy season, your wages for the previous six months are at their highest average, whereas if you wait a few months or more, that average may go down, allowing you to qualify.
• On the other hand, if you are just wrapping up the slow months and are about to get really busy, your income average is going to go up. If you wait too long, you might not qualify.

In some cases, people can be tempted to file pre-emptively, after a job loss or pay cut. But your salary average won’t show that cut on your means test results until months, or even half a year, later.

People may wait for many reasons, including to see if they qualify. But sometimes, people wait because they procrastinate, or they decide they want to try something else. Then they come back, and by then, it’s too late.

Don’t Ghost Your Lawyer: Bankruptcy Filing Timing In Action

I had a case where somebody wanted to file, and we got everything ready, then they just ghosted me. Many months later, over a year later, in fact, they called me, and now they wanted to file.

I had them send over their new information, and lo and behold, they no longer qualified for Chapter 7 bankruptcy; their only choice was the more strenuous and drawn-out Chapter 13.

They waited too long, and their chance at easier relief was gone. Chapter 7 bankruptcy is all about timing; the perfect time for you might be the worst for someone else, and a few months can make the difference between being able to qualify for Chapter 7 and being forced to choose Chapter 13, for which neither timing nor income matter greatly.

Still Have Questions About The Means Test? Ready To Get Started On Your Chapter 7 Bankruptcy?

For more information on Florida bankruptcy means test 2026, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (407) 255-7458 today.