What is the Median Income in my State and Why Does It Matter?

One of the requirements when filing a bankruptcy is to complete a version of Bankruptcy Form 122 which is known as the “Chapter 7 Means Test Calculation” or the “Chapter 13 Calculation of Your Disposable Income.” Debtors enter their income and expense information on this form. The information is partially from the debtor’s records such as pay-stubs and some of the information u ...Read the full article