2010 Florida Chapter 7 Median Income for Bankruptcy Qualification

On November 1, 2010 the United States Trustees Office revised the median income figures for Florida households.  These new figures will apply to Chapter 7 and Chapter 13 cases filed on or after November 1, 2010.

Below are the numbers for median income in Florida Post November 1, 2010:

1 earner –  $39,393 annually or $3,282 monthly.

2 people – $49,321 annually or $4,110 monthly.

3 people – $53,713 annually or $4,476 monthly.

4 people – $64,084 annually or $5,340 monthly.

5 people – $71,584 annually or $5,965 monthly.

6 people – $79,084 annually or $6,590 monthly.

The numbers above reflect GROSS INCOME or income before taxes and deductions.  If your numbers are higher than the median income then there is still hope that you can qualify for Chapter 7 bankruptcy, however it will involve looking at your expenses in the means test.

If you are thinking of filing Chapter 7, Chapter 13, or Chapter 11 bankruptcy in South Florida (Boca Raton, Fort Lauderdale, Miami, Plantation, Sunrise) then please give Shmucher Law, PL a call at 954.309.5559 or 305.741.5553 in order to schedule a free initial consultation.

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