Chapter 7 presumption thresholds

Discussion in 'Bankruptcy' started by Mark T.B. Carroll, Jun 11, 2009.

  1. For the median income stuff by state, how do they determine residency so
    they know which state's median income to apply? Is it just where you
    live now, or do you have to have lived in that state for 91 days or 2
    years or something?

    Also: I assume family size includes kids?

    Mark
     
    Mark T.B. Carroll, Jun 11, 2009
    #1
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  2. Mark T.B. Carroll

    sttriker Guest

    Hey Mark-

    This is the "Rule of Thumb" when it comes to income. Keep in mind they
    only use the last six months to use the income. I hopes this helps
    you!

    Warmest Regards,

    Tony Cramer

    State Single-Earner 2-Person 3-Person *4-Person
    * Add $6,900 for each individual in excess of 4.
    Alabama $36,870 $46,647 $53,093 $63,951
    Alaska $49,325 $71,550 $72,079 $91,754
    Arizona $43,397 $57,620 $62,002 $71,867
    Arkansas $33,623 $45,435 $48,909 $56,822
    California $49,182 $65,097 $70,684 $79,971
    Colorado $46,765 $65,668 $70,838 $78,905
    Connecticut $57,505 $70,827 $85,315 $103,408
    Delaware $46,187 $60,747 $77,174 $79,006
    District Of Columbia $42,340 $72,724 $72,724 $72,724
    Florida $42,468 $53,939 $60,162 $71,124
    Georgia $40,760 $54,054 $61,959 $71,554
    Hawaii $52,784 $66,227 $73,187 $88,863
    Idaho $40,910 $51,946 $54,633 $66,939
    Illinois $47,355 $60,049 $68,730 $81,184
    Indiana $41,697 $53,169 $61,164 $70,518
    Iowa $41,381 $54,628 $63,888 $74,047
    Kansas $41,004 $56,146 $63,245 $74,626
    Kentucky $36,628 $45,474 $55,391 $65,520
    Louisiana $36,945 $46,741 $52,628 $66,634
    Maine $40,618 $52,065 $64,342 $69,714
    Maryland $55,543 $73,947 $84,952 $103,719
    Massachusetts $54,842 $66,437 $83,104 $100,280
    Michigan $44,703 $53,575 $63,339 $76,312
    Minnesota $47,592 $62,073 $75,603 $87,634
    Mississippi $32,348 $41,934 $46,470 $55,759
    Missouri $39,563 $51,612 $58,473 $70,363
    Montana $39,484 $52,796 $52,796 $65,175
    Nebraska $37,803 $53,453 $62,814 $72,179
    Nevada $48,194 $60,557 $65,783 $74,735
    New Hampshire $55,766 $65,751 $77,008 $93,186
    New Jersey $57,120 $69,853 $85,397 $103,034
    New Mexico $35,913 $48,708 $53,018 $56,009
    New York $46,523 $57,006 $67,991 $83,036
    North Carolina $38,478 $52,355 $57,301 $70,134
    North Dakota $38,226 $53,389 $67,644 $71,751
    Ohio $42,458 $52,922 $62,251 $74,234
    Oklahoma $38,244 $51,322 $54,494 $62,049
    Oregon $45,176 $56,317 $61,046 $72,735
    Pennsylvania $44,688 $53,011 $67,262 $78,780
    Rhode Island $46,466 $59,314 $72,809 $91,415
    South Carolina $38,728 $50,823 $54,834 $65,974
    South Dakota $35,533 $51,068 $58,135 $69,002
    Tennessee $37,702 $48,729 $55,190 $64,615
    Texas $38,545 $54,908 $57,053 $66,400
    Utah $48,832 $56,816 $63,796 $71,919
    Vermont $40,876 $58,480 $64,312 $75,938
    Virginia $49,689 $65,342 $73,191 $85,769
    Washington $50,656 $63,521 $69,577 $82,445
    West Virginia $38,706 $42,865 $50,997 $59,762
    Wisconsin $42,816 $57,657 $67,103 $77,760
    Wyoming $46,265 $60,442 $68,568 $80,405
     
    sttriker, Jun 24, 2009
    #2
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  3. Thanks! I did know about that table. My question is how they determine
    which state and family size apply so you know which table cell to look
    at. Is it just, which state you live in at the moment you file
    bankruptcy, and you just add adults and kids together to get family
    size, or is there more to it?

    I ask because, for instance, for figuring which state's exemptions
    apply, there's more to it than just which state you live in at the
    moment.

    Mark
     
    Mark T.B. Carroll, Aug 3, 2009
    #3
  4. Mark T.B. Carroll

    BetaB4 Guest

    I just did a Google search for -----> bankruptcy residency rules

    Here's one of the websites that came up and an excerpt from that website:



    http://www.doney.net/timeline.htm



    Minimum state residency requirement:

    The debtor must have resided in the state where the bankruptcy is filed for
    the 90 days preceding the filing. If the debtor has not resided in the
    state that long, the debtor must file in the state where he or she has
    resided, or has had his or her principal place of business or which has been
    the location of his or her principal assets for the majority of the last 180
    days. [28 USC §1408]
     
    BetaB4, Aug 5, 2009
    #4
  5. Oh, sure, yes - but the state you file in can be different to, for
    instance, which state's exemptions apply, so it doesn't seem safe to
    assume that the state you use for chapter 7 income thresholds is always
    the same as the state you file in, especially given that that may not be
    your current residence.

    Though at least I'm getting the impression that there isn't an easy
    well-known answer to this one! Alas, form 22A just mentions the
    `applicable state', with no further elaboration.

    Mark
     
    Mark T.B. Carroll, Aug 5, 2009
    #5
  6. Mark T.B. Carroll

    BetaB4 Guest

    I don't know for sure, but I think that there is only one state where you
    legally must file depending on your specific circumstances (time of
    residency, etc.). And, I think that the state that you must legally file in
    is the state that is applicable in terms of exemptions, etc.

    I think the reason for the law is to prevent people from just moving to a
    state with better exemption options, and then filing and using those
    exemptions.
     
    BetaB4, Aug 6, 2009
    #6
  7. No - where one files depends on where one's lived for the past couple of
    years, in the manner you previously quoted, but the state whose
    exemptions one can claim has more to do with where one lived two to four
    years before one filed. (With the states that want one still to be
    living there to use their exemptions, if one no longer does I think
    one's stuck with the Federal exemptions instead?) So this difference is
    what makes me wonder what rules apply for figuring out the applicable
    state for median income, given that different rules apply for different
    things.
    Yes, absolutely. (Some of this comes about because of the 2005 act.)

    Mark
     
    Mark T.B. Carroll, Aug 6, 2009
    #7
  8. Actually, it might be two to two-and-a-half. Something like that anyway.

    Mark
     
    Mark T.B. Carroll, Aug 6, 2009
    #8
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