The Michigan means test median household income numbers were updated again on March 15, 2011. Unlike the prior update on 11/1/2010, the numbers rose this time, so this is good news for “on-the-edge” potential Chapter 7 filers whose household incomes may have been hovering on the edge.
The new numbers are:
- Household of 1 Person: $42,562
- Household of 2 Persons: $50,738
- Household of 3 Persons: $60,161
- Household of 4 Persons: $71,758
Not a huge bump, just around $1,000 or so per household, but every little bit can often make the difference in determining whether someone is elgible for a Chapter 7 or must file a Chapter 13 instead.
If you are a southeast Michigan resident and are considering filing for bankruptcy, please contact me at (866) 674-2317 or email@example.com to schedule a free, initial consultation.