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If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7.
Total average monthly payment for all mortgages and other debts secured by your home. To calculate the total average monthly payment, add all amounts that are contractually due to each secured creditor in the 60 months after you file for bankruptcy. Then divide by 60.
The median income is based on the size of the family. This threshold for Florida as of May 1, 2019 ranged from approximately $49,172 for a family of one to $78,833 for a family of four. If you are filing bankruptcy in another state, the median state income in that state will be used for this stage of the evaluation.
One of the most common myths about bankruptcy is that high income debtors earn too much to file bankruptcy. But the truth is that no matter how much you earn, you may qualify for Chapter 7 or Chapter 13 bankruptcy based on your financial situation.
The purpose of the means test is to see that if the debtor is abusing the bankruptcy system by filing Chapter 7 bankruptcy cases even though they could afford to pay at least some of their debts. Therefore, the means test is mainly testing the ability of the debtor to pay the creditor(s).
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The Applicable Median Family Income is currently $86,259. So, if you are a household size of 4 and make less than $86,259 then you would be able to pass the means test and qualify for a Chapter 7. However, even if you are a household size of 4 and make more than $86,259 you still may qualify.
In chapter 13, "disposable income" is income (other than child support payments received by the debtor) less amounts reasonably necessary for the maintenance or support of the debtor or dependents and less charitable contributions up to 15% of the debtor's gross income.
Section 101(10A) of the Bankruptcy Code. This may include income and payments from some unexpected sources. As expected, all income from your employer is included\u2014all gross wages or salary, as well as any tips, overtime, shift differentials, and commissions, WITHOUT subtracting any tax or other deductions.
Under this means test, someone who wants to file for Chapter 7 bankruptcy must show an average income that is below the state's median income in order to qualify. In Florida, a one person family with an average monthly income of $3,493 or a 6-month total of $20,958 may qualify for Chapter 7.
For the means test purposes, your current monthly income (CMI) is the average monthly income you receive from all sources during the full six-month period preceding your filing date.

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