The North Dakota Statement of Current Monthly Income and Means Test Calculation for Use in Chapter 7 — Post 2005 is a crucial document in bankruptcy proceedings. It assists individuals in determining their eligibility for Chapter 7 bankruptcy by evaluating their current monthly income and comparing it to the state median income. Below, we will discuss the various aspects and types of this statement, emphasizing the key keywords associated with it. The North Dakota Statement of Current Monthly Income and Means Test Calculation for Use in Chapter 7 — Post 2005 is a mandatory form used in bankruptcy cases filed post-2005, after the Bankruptcy Abuse Prevention and Consumer Protection Act was enacted. This act introduced a means test to determine whether an individual's income allows them to qualify for Chapter 7 bankruptcy or directs them towards Chapter 13 bankruptcy. One type of this statement is the North Dakota Statement of Current Monthly Income, which requires debtors to provide comprehensive information about their income sources, including wages, self-employment earnings, rental income, and any other sources of revenue. Debtors must disclose all income received within the six months preceding the bankruptcy filing. The statement then proceeds to calculate the debtor's average monthly income by adding up the income received during the six-month period and dividing it by six. This amount is further compared to the state median income, which is adjusted based on household size and geographical location. The means test calculation comes into play if the debtor's average monthly income exceeds the state median income for a similar household size. Debtors are required to complete Form 22A-2P, the North Dakota Chapter 7 Means Test Calculation, to determine their disposable income. Form 22A-2P focuses on subtracting specific allowed expenses from the debtor's monthly income to ascertain whether they possess sufficient disposable income to repay their debts partially or entirely without filing for Chapter 7 bankruptcy. Some key deductions include monthly housing expenses, vehicle ownership costs, healthcare expenses, and childcare expenses. If the means test calculation reveals that the debtor has negligible disposable income or does not meet the qualifications for Chapter 7 bankruptcy, they may be directed towards Chapter 13 bankruptcy, which involves a repayment plan. Overall, the North Dakota Statement of Current Monthly Income and Means Test Calculation for Use in Chapter 7 — Post 2005 plays a crucial role in determining a debtor's eligibility for Chapter 7 bankruptcy. By assessing their current monthly income, comparing it with the state median income, and performing the means test calculation, debtors can understand their options and choose the appropriate bankruptcy pathway for their financial situation.