28 10, 2016

What is the “Median Income”?

By |2017-07-04T13:09:54+00:00October 28th, 2016|Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy, Uncategorized|0 Comments

Median income is a benchmark in bankruptcy, which can determine whether or not you qualify for chapter 7 bankruptcy. Chapter 7 bankruptcy is the chapter where your debts are wiped out. if your income is under the median income for your household size, then you are automatically eligible for chapter 7 from an income standpoint. [...]