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Median Income

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The means test uses median income figures based on US Census figures. As of April 1, 2017, the median income figures for use in the bankruptcy means test for Florida are listed in the chart below. The initial analysis under the new law and its means test depends on whether or not the household income is under the median income for the state.

FLORIDA MEDIAN INCOME

Household Size Household Income
1 person $44,576
2 persons $55,344
3 persons $60,636
4 persons $72,382
each additional person add $8,400

 

If you are above the median income, there is a good chance you are still eligible for a chapter 7, but a chapter 13 payment plan might be necessary.

If you are under the median income, you might have an absolute right to file a chapter 7. This issue should be discussed with your attorney.

Social security is not included as income in the means test. You should consult with your attorney to determine what is included as income and what is the household size.

Contact Florida bankruptcy attorney Jeffrey Solomon to discuss the means test.

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