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Median income figures increase effective April 1

by | Mar 28, 2024 | Bankruptcy, Chapter 7

The easy way to qualify financially for chapter 7 bankruptcy (i.e. without doing the means test) is by being under the median income. The census bureau has determined that the median income for these household sizes has changed as follows:

One person household: (from $69,640 to $72,319)
Two person household: (from $90,144 to $93,855)
Three person household: (from $112,783 to $117,426)
Four person household: ($136,293 to $141,903)

For each additional household member above four, add $9,900.