The Tennessee Statement of Current Monthly Income and Means Test Calculation for Use in Chapter 7 — Post 2005 is a legal document used in bankruptcy proceedings within the state of Tennessee. This document helps determine the eligibility of individuals or households to file for Chapter 7 bankruptcy and assesses their ability to repay debts. The Statement of Current Monthly Income is a crucial component of the means testing process, which was implemented as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. It aims to identify debtors who have the means to repay a portion of their debts under Chapter 13 bankruptcy rather than completely liquidating them through Chapter 7. The means test calculation is a complex formula utilized to determine if an individual's income exceeds the state median income for a household of similar size. If the individual's income is below the median, they automatically qualify for Chapter 7 bankruptcy. However, if their income surpasses the state median, further analysis is required to assess eligibility. Different types of Tennessee Statement of Current Monthly Income and Means Test Calculation for Use in Chapter 7 — Post 2005 may include: 1. Individual Form: This form is filled out by an individual debtor providing detailed information about their monthly income and expenses, including wages, self-employment income, rental income, retirement benefits, and any other sources of revenue. 2. Joint Form: If a married couple is filing for bankruptcy together, they may need to submit a joint form, which combines their monthly income and expenses to assess their overall financial situation. 3. Self-Employed Form: Individuals who have their own business or are self-employed will need to complete an additional section on the form that captures their business income and deductible expenses. 4. Variations by County: Depending on the specific bankruptcy court in Tennessee, there may be slight variations in the format or additional requirements for completing the Statement of Current Monthly Income and Means Test Calculation. It is essential for anyone considering Chapter 7 bankruptcy in Tennessee to consult with a qualified bankruptcy attorney to accurately complete the required forms and navigate the legal process successfully.