Means test - Section 707(b)(2) of the Bankruptcy Code applies a "means test" to determine whether an individual debtor's chapter 7 filing is presumed to be an abuse of the Bankruptcy Code requiring dismissal or conversion of the case (generally to chapter 13). Abuse is presumed if the debtor's aggregate current monthly income (see definition above) over 5 years, net of certain statutorily allowed expenses is more than (i) $10,000, or (ii) 25% of the debtor's nonpriority unsecured debt, as long as that amount is at least $6,000. The debtor may rebut a presumption of abuse only by a showing of special circumstances that justify additional expenses or adjustments of current monthly income.⏎
Misdemeanor - An offense punishable by one year of imprisonment or less. See also felony.⏎
Liquidation - The sale of a debtor's property with the proceeds to be used for the benefit of creditors.⏎
Jurisdiction - The legal authority of a court to hear and decide a certain type of case. It also is used as a synonym for venue, meaning the geographic area over which the court has territorial jurisdiction to decide cases.⏎
Issue - 1. The disputed point between parties in a lawsuit; 2. To send out officially, as in a court issuing an order.⏎