Charleston Bankruptcy Blog http://www.scbankruptcyattorney.com/blog South Carolina Bankruptcy Law and Information Tue, 09 Mar 2010 14:21:52 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 South Carolina Bankruptcy Median Income Figures Change March 15 http://www.scbankruptcyattorney.com/blog/new-bankruptcy-median-income-figures-change-march-15/2010/03 http://www.scbankruptcyattorney.com/blog/new-bankruptcy-median-income-figures-change-march-15/2010/03#comments Tue, 09 Mar 2010 03:35:50 +0000 Russ DeMott http://www.scbankruptcyattorney.com/blog/?p=1290
  • New Bankruptcy Median Income Figures Effective November 1, 2009
  • The Bankruptcy Means Test (Part Two)
  • The Bankruptcy Means Test (Part Three)
    • ]]>     Bankruptcy Median income figures change again on March 15.  Unless your debts are primarily business debts, these figures help the court determine whether or not you must complete the means test portion of the bankruptcy schedules and whether you may qualify for a Chapter 7 bankruptcy, or instead may have to file a Chapter 13 bankruptcy.

    The United States Trustee’s Office has published new income statistics based on information from the United States Census Bureau. The income statistics will be applied to all cases filed on or after March 15, 2010.

    The new income data for South Carolina are listed below and apply to anyone filing bankruptcy in South Carolina.

    Family of One: $39,052

    Family of Two: $51,191

    Family of Three: $55,099

    Family of Four: $65,421

    All median income figures went down since the last time median income figures were last adjusted November 1, 2009.  This is yet another sign a severe recession.  For each family member in the household over four, add $6,900.

    Related posts:

    1. New Bankruptcy Median Income Figures Effective November 1, 2009
    2. The Bankruptcy Means Test (Part Two)
    3. The Bankruptcy Means Test (Part Three)

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