Posts Tagged 'Chapter 7 bankruptcy'

How Does Median Income Affect Bankruptcy?

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When you file for Chapter 7 or Chapter 13 bankruptcy, your household income is compared to the median income in your state for a household of the same size. For Chapter 7 bankruptcy, median income is used as a means test to determine if you are eligible for chapter 7 relief or not. If  you don’t qualify for Chapter 7, median income is used to determine ...

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