Really Really Confused

[danaf]

About annualized current monthly income....and annual salary.

I've been wondering what would happen if I receive a raise in the near future. (as has been hinted to me recently)

So I computed my yearly salary now which is 50k but comes up at 46,152. This falls below my states median according to the means test. Then out of curiosity, I recomputed as if I were to receive a 1500 raise. And according to the means test, it is coming up at 47,532 which still falls under my states median income. (for a family of 2).

So median family income does not mean yearly salary then. I've been stressing (and not sleeping well) thinking I might have to file sooner than I wanted. But according to this new information, it seems possible to put more time between my past debts & future filing. Am I missing something?

[lrprn]

So median family income does not mean yearly salary then. ... Am I missing something?

No, you have it right. Your income for the Means Test is calculated from all the income from all sources you and family have received during the six full calendar months before you file bankruptcy. Take that amount times 2 - this is your "annual income" that you compare against your state's median income for your family size.

Be sure to write your congressperson who probably voted back in 2005 for this ridiculous hoop-jumping to say thanks....NOT!