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:
- $41,210
- $57,561
- $63,212
- $72,352
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…]
As always with any information on the internet, you should ask questions and discuss specific issues with your own bankruptcy attorney. Chapter 13 bankruptcy practice varies widely from trustee to trustee and judge to judge around the country.
