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Bankruptcy

: Bankruptcy Law Network

How to file bankruptcy ? #8 in a series ? ?Applicable Median Family Income?

By David Leibowitz, Illinois and Wisconsin Bankruptcy

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So how do you figure out if your “current monthly income” – the average income you have for the past six months is above or below the median income for a family your size. Well, like so many other things in life, our government has told us what this means. Here’s a table directly from the United States Trustee’s Program telling you what your applicable family income is for your state for a family your size:

		FAMILY SIZE
STATE	1 EARNER	2 PEOPLE	3 PEOPLE	4 PEOPLE *

Alabama	$38,278	$47,904	$55,433	$65,079
Alaska	$51,945	$73,809	$77,268	$85,118
Arizona	$42,476	$56,692	$61,845	$69,205
Arkansas	$33,412	$44,257	$48,548	$57,699
California	$47,969	$64,647	$70,638	$79,194
Colorado	$47,085	$64,754	$69,728	$81,354
Connecticut	$58,321	$72,328	$86,335	$101,761
Delaware	$46,249	$60,736	$69,826	$88,409
District of Columbia	$42,120	$68,647	$69,047	$69,047
Florida	$41,079	$52,073	$58,366	$68,763
Georgia	$40,546	$55,061	$60,887	$68,258
Hawaii	$55,221	$66,960	$77,263	$91,158
Idaho	$39,484	$51,291	$52,577	$61,830
Illinois	$45,941	$59,838	$71,075	$81,175
Indiana	$40,683	$52,367	$59,438	$70,621
Iowa	$39,918	$55,087	$64,143	$72,701
Kansas	$41,210	$57,561	$63,212	$72,352
Kentucky	$37,450	$45,491	$54,488	$64,230
Louisiana	$37,331	$48,115	$53,271	$66,020
Maine	$38,674	$50,731	$61,855	$70,124
Maryland	$55,041	$72,801	$85,151	$101,441
Massachusetts	$53,315	$69,204	$82,297	$99,293
Michigan	$43,456	$52,433	$61,517	$74,558
Minnesota	$45,101	$62,162	$74,806	$86,329
Mississippi	$31,954	$42,606	$46,519	$58,310
Missouri	$39,504	$51,385	$60,156	$70,806
Montana	$39,979	$52,310	$58,427	$65,593
Nebraska	$40,208	$56,659	$63,475	$72,284
Nevada	$46,151	$60,234	$66,813	$70,851
New Hampshire	$51,332	$63,976	$79,385	$93,592
New Jersey	$59,812	$71,744	$85,764	$102,894
New Mexico	$36,642	$50,457	$50,457	$55,363
New York	$46,320	$57,902	$69,174	$82,164
North Carolina	$38,656	$52,008	$56,727	$67,056
North Dakota	$36,753	$54,468	$62,412	$74,873
Ohio	$41,724	$52,030	$61,552	$73,040
Oklahoma	$38,929	$50,710	$54,328	$61,816
Oregon	$42,344	$55,820	$62,608	$72,408
Pennsylvania	$44,396	$53,572	$67,516	$77,590
Rhode Island	$45,061	$62,583	$76,573	$86,692
South Carolina	$39,052	$51,191	$55,099	$65,421
South Dakota	$36,713	$54,138	$62,928	$69,932
Tennessee	$37,598	$48,935	$53,822	$63,999
Texas	$38,801	$55,660	$59,011	$66,145
Utah	$50,388	$56,729	$61,685	$69,741
Vermont	$41,593	$56,656	$65,094	$73,899
Virginia	$48,190	$64,890	$73,887	$85,633
Washington	$51,161	$63,930	$72,275	$82,422
West Virginia	$39,135	$43,070	$51,652	$58,271
Wisconsin	$42,205	$57,201	$67,881	$80,243
Wyoming	$44,004	$59,617	$65,586	$76,690

For families larger than 4, before March 31, 2010, just add $6,900 per person and after April 1, 2010, add $7,500 per person. Now, here’s an interesting question. Who is a member of your family for purposes of this test? Ah, more complexity and another question for another day. I do wonder why New Jersey, Connecticut and Maryland have the highest figures in the country. Maybe some of our readers can explain this.

Full post as published by Bankruptcy Law Network on March 18, 2010 (boomark / email).