Bankruptcy
Median Income Figures
Median income figures change approximately every 6 months and are published by the US Trustee Program under the U.S. Department of Justice. These numbers change based on data from the Census Bureau and the IRS. The numbers are important because they establish income caps for qualify for chapter 7 bankruptcy. There are several exceptions to these numbers that apply in limited situations like the military exception, veteran exception, and business debt exception. The higher your income, the more difficult your case can get and the more you need an experienced bankruptcy lawyer to help you navigate your way.
Median Income Figures for the Eastern District of Washington
Median Income Levels as of April 2020| Family Size | Yearly figure | Monthly Figure |
|---|---|---|
| 1 | $67,511 | $5,625 |
| 2 | $80,251 | $6,687 |
| 3 | $92,568 | $7,714 |
| 4 | $107,481 | $8,956 |
| 5 | $116,481 | $9,706 |
| 6 | $125,481 | $10,456 |
| 7 | $134,481 | $11,206 |
For each family member over seven, the monthly figure increases by $700.00
Median income numbers change every six months, typically April and November
We Can Help
With 20 years experience in bankruptcy law, I will take a close look at all your options and how you may qualify for a chapter 7 bankruptcy. Even if you don’t qualify for chapter 7 there are other options like a chapter 13 bankruptcy that offers debt relief as well. Call us at (509)921-9500 or contact us for a free consultation and get started on a better financial future.
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