Chapter 7 Means Test – Median Income

Do I qualify for Chapter 7 Bankruptcy? One of the main factors in determining whether or not an individual qualifies for a Chapter 7 bankruptcy, is whether your household income is under the median family income amount.

For cases filed on or after November 1, 2017 in Michigan, the following are the median incomes by family size:

1 earner: $48,626

family size: 2 people: $59,541

family size: 3 people: $70,579

family size: 4 people: $87,070

for families in excess of four people, add $8,400 for each additional individual.

If your household income exceeds the aforementioned numbers, you may still qualify for a Chapter 7 bankruptcy. For more information, contact our office at (586) 264-3756.