Tag Archives: means test

Updated means test numbers – effective November 1, 2012

The new means test numbers went into effect on November 1, 2012. Here is a link to the updated median incomes for the means test: http://www.justice.gov/ust/eo/bapcpa/20121101/bci_data/median_income_table.htm There was a slight decrease in the median income for household sizes of 1 … Continue reading

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Median Income and the Means Test: Gross Income vs. Net Income

In a consumer bankruptcy case,  a person’s gross income is used to calculate whether the debtor is above or below the median income for means test purposes. People often confuse gross and net (or “take-home”) income, and that is understandable, … Continue reading

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Median Income and the Means Test

In 2005, BAPCPA (Bankruptcy Abuse Prevention and Consumer Protection Act) was passed. For more information about BAPCPA, through the lens of the U.S. Trustee Program, see this website. One of the most “fun” parts of BAPCPA is the application of … Continue reading

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