What is the Median Family Income?
Median Family Income is determined by examining the median family income reported by the Bureau of the Census for your state and household size. If your Current Monthly Income (CMI) is less than the Median Family Income, you may file a Chapter 7. If your CMI is greater than the Median Family Income, you must conduct a Means Test to determine if you are eligible to file a Chapter 7. The Median Family Income adjusts with time. It is currently: Household Size Amount 1 $47,363.00 2 $62,690.00 3 $68,070.00 4 $77,014.00 I want to learn more. What is the next step? Contact our office and ask our staff for a free personal consultation with an attorney. What do I need to bring to the initial consultation visit? You generally don’t need to bring any documents to the initial visit. However, you should be familiar with your financial picture. For example, you need to know: • the address and rough value of all real estate you own, • the approximate balance of your real estate loans, • the year, mak
