As the economy worsens, unemployment rises and family incomes are dropping, getting bankruptcy help gets a little tougher.
The bankruptcy income guidelines go down a few hundred dollars for Kansas cases filed on or after March 15, 2010. While this change probably won’t disqualify many debtors, the downward trend is disturbing and more evidence the means test is a mean test.
Here are the new Kansas median income figures by family size used for part one of a two part-test to determine bankruptcy eligibility:
But do not despair if your income is higher than these numbers and you need bankruptcy help. You are not automatically disqualified. These numbers are used in part one of the means test to figure out whether Kansans may get rid of their general debts such as credit cards and medical bills in bankruptcy.
You have a second chance to pass the bankruptcy means test [Read more...]