Bankruptcy Income Guidelines to Increase Slightly October 1

It will be a little easier to qualify for bankruptcy relief when the income guidelines used for eligibility increase slightly on October 1.  A single Kansas earner will be able to make $894 more per year and qualify for chapter 7 bankruptcy relief.  A family of four will be allowed a $2036 more income per year in Kansas.

Here are the “means test” figures now in effect and the figures approved by the U.S. Trustee for bankruptcy cases file on October 1, 2008, or after.

  • 1 earner                       $38,594      $39,488
  • 2-person families    $52,989      $54,070
  • 3-person families    $58,075      $60,906
  • 4-person families    $69.831      $71,867
  • 5-person families    $76,731      $78,767
  • 6-person families    $83,631      $85,667
  • add $6,900 for each additional person [Read more…]

More Kansans Can Qualify for Bankruptcy Help with Increased Income Allowances

The Kansas income guidelines for the bankruptcy means test go up February 1, 2008.

Kansas Median Family Income by Family Size for Bankruptcy Cases Filed on or After February 1, 2008,

  • 1 earner……….$38,594
  • 2 persons……..$52,989
  • 3 persons …….$58,075
  • 4 persons …….$69, 831
  • 5 persons …….$76,731
  • 6 persons …….$83,631
  • Add $6,900 for each additional individual