The Montana Statement of Current Monthly Income and Means Test Calculation for Use in Chapter 7 — Post 2005 is a vital document required in bankruptcy proceedings for individuals filing under Chapter 7 in Montana. This statement helps determine an individual's eligibility for bankruptcy relief by assessing their current monthly income and comparing it to the state's median income level. In the state of Montana, there are two types of Montana Statement of Current Monthly Income and Means Test Calculation for Use in Chapter 7 — Post 2005, namely: 1. Means Test Calculation: This part of the statement involves a comprehensive analysis of the debtor's income, expenses, and other financial details. It calculates disposable income by deducting allowable expenses from the debtor's current monthly income. The means test determines if an individual qualifies for Chapter 7 bankruptcy based on their disposable income. If the disposable income falls below the state median income level, the debtor usually qualifies for Chapter 7. 2. Statement of Current Monthly Income: This section focuses on documenting the debtor's sources of income. It includes wages, salary, self-employment earnings, rental income, pension, social security benefits, and any other regular income sources. The statement must accurately capture the debtor's average monthly income over the six months preceding the bankruptcy filing. The Montana Statement of Current Monthly Income and Means Test Calculation for Use in Chapter 7 — Post 2005 serves as a crucial tool in determining an individual's bankruptcy eligibility and ensuring transparency in bankruptcy proceedings. It helps prevent abuse of the bankruptcy system by evaluating the debtor's financial standing and assessing whether Chapter 7 bankruptcy is appropriate given their current income level. When completing this statement, individuals must ensure accuracy and consistency in documenting their income and expenses, as any discrepancies may negatively impact their eligibility for Chapter 7 bankruptcy relief. Seeking professional legal assistance or a bankruptcy attorney in Montana can be highly beneficial to navigate through the complexities of this process and ensure compliance with all relevant laws and regulations. Overall, the Montana Statement of Current Monthly Income and Means Test Calculation for Use in Chapter 7 — Post 2005 plays a significant role in assessing a debtor's qualification for Chapter 7 bankruptcy under the state laws of Montana, facilitating fair and equitable bankruptcy proceedings while providing individuals with an opportunity for debt relief in times of financial hardship.