California Median Family Income & Means Test

The first hurdle in the newly enacted means test for Chapter 7 eligibility is the median income for a household of comparable size in that state. Those under the median pass the means test at the first hurdle; those above the median go on to calculate if their allowed expenses yield “disposable income” sufficient to repay creditors a portion of their claims.

The Census Bureau has just released new figures that are used in bankruptcy cases filed after February 1. For California, those figures are

  • 1 person household $44,499
  • 2 person household 59,086
  • 3 person household 64,118
  • 4 person household 72,996

One of the glitches in the drafting of the 05 amendments is that the language of the statute talks about comparing the size of the “household” to the census figures for “families”. Thus the household may be measured by the Census Bureau’s “heads on beds” standard, irrespective of the degree of economic interdependence of those sleeping in those beds. Yet we indulge in the fiction that Congress knew what is was thinking when it passed this act. The more we work with the “new law”, the more fictional it becomes.

13 Responses to “California Median Family Income & Means Test”

  1. Landscape and Gardening Information Page Says:

    Gardens and Landscape Help…

    Too much water applied to the soil can cause the plant to actually……

  2. Contact Lens and Eye Glasses Resource Says:

    Glasses and Contact Lens Vision Information…

    Contact lens can be different for each eye as well as be adjusted for different sight requirments…

  3. Relevant Says:

    Relevant…

    Relevant Search…

  4. Swimming Pool site, swimming pool Says:

    Swimming Pool…

    Come to my swimming pool site, thank you…

  5. Weird and Cool Deals Says:

    Internet Deals…

    find the best deals on the internet includes shopping…

  6. law degree Says:

    law degree…

    But the law is the law, and it has to be obeyed….

  7. income Says:

    income…

    Hi Everybody this is a site with the best payplan out there. please check it out. Tell all your friends as fast as you can….

  8. debt to income Says:

    debt to income…

    Hi Everybody this is a site with the best payplan out there. please check it out. Tell all your friends as fast as you can….

  9. Beds Says:

    Beds…

    Good to know ……

  10. Computer Network Security Says:

    Computer Network Security…

    I couldn’t understand some parts of this article, but it sounds interesting…

  11. Instant Payday Loans Says:

    Instant Payday Loans

    We deem that to be true because ratings analysts who travel in Jackson now and again approve cash loans

  12. blog Says:

    hello

    great post

  13. Eric Says:

    Eric

    Here\’s a very good authrity site and articles

Leave a Reply

You must be logged in to post a comment.