Tuesday, August 09, 2005

Median Family Income

I have been led to the Census Bureau's Median Family Income numbers, these numbers are not exactly what will be used under the reform act, but should be close. They can be found on the Census bureau's Website. The numbers given are statistical upper and lower ranges with an estimated median. These numbers will also be revised about the same time as the Act goes into effect. The UST's office will publish the exact numbers they will be using once they are determined, but here is what the estimated numbers are now:

1 earner $32,068
2 $43,569
3 $43,770
4 $57,410

So, if a client has more than the median family income there is a rebuttable presumption of abuse and it will take some more work to determine if they qualify for a chapter 7 or what their disposable income will be under chapter 13.