Posts

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New median income figures go into effect November 1, 2019

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy cases filed after November 1, 2019. The median income is an important figure, as debtors below that figure are…
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Veterans Exempt from Means Test

On Friday, the President signed the Honoring American Veterans in Extreme Need Act of 2019, which excludes from the calculation of monthly income, for purposes of the Bankruptcy Code's means test, certain benefits paid by the Department of Veterans…

New median income figures go into effect May 1, 2019

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy cases filed after May 1, 2019. The median income is an important figure, as debtors below that figure are almost…

New median income figures go into effect November 1, 2017

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy case is filed after November 1, 2017. The median income is an important figure, as debtors below that figure…

New median income figures go into effect April 1, 2017

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy case is filed after April 1, 2017. The median income is an important figure, as debtors below that figure are almost…

Median income figures get upward adjustment

Recently released census bureau figures show that the median income figures will increase for bankruptcy cases filed after November 1. These figures are typically adjusted every November and May. The median income is a function of household…