New Median Income Data

[rjmwx81]

The new median income data, for cases filed after November 1, is now available at the US Trustee's website.

http://www.justice.gov/ust/eo/bapcpa/20101101/bci_data/median_income_table.htm

My state went down...but only by about $40. A lot of worry for nothing. Thank heavens.

[Freddy03]

Great what does this mean for me?

I'm in FL and it went down almost $5000!!

I'm filing mid/late Nov. and I was already over the median by a $5000 before.

There is no way I can file before Oct 31st because I need to catch up on mortgage.

[scorpion35]

The new median income data, for cases filed after November 1, is now available at the US Trustee's website.

http://www.justice.gov/ust/eo/bapcpa/20101101/bci_data/median_income_table.htm

My state went down...but only by about $40. A lot of worry for nothing. Thank heavens.

the median income for florida went down $3000 for a family of 2
glad i filed in sept

[scorpion35]

Great what does this mean for me?

I'm in FL and it went down almost $5000!!

I'm filing mid/late Nov. and I was already over the median by a $5000 before.

There is no way I can file before Oct 31st because I need to catch up on mortgage.

u will be over by almost $10000 by the time u file

[Panacea]

Fam of 2 in MD went up almost 600!!!!

[Dee]

Good Golly! $5,000 drop for Florida! Glad I'm filing next week - I'm already $17,000 over median before the decrease!

[rjmwx81]

Great what does this mean for me?

I'm in FL and it went down almost $5000!!

I'm filing mid/late Nov. and I was already over the median by a $5000 before.

There is no way I can file before Oct 31st because I need to catch up on mortgage.

Ouch. Remember though that the median income is only part of the situation. You might still be able to get a Chapter 7, you just have to go through the whole means test.

Edited to add: It also means your Schedule J will probably get a closer inspection, so be prepared for that.

[Freddy03]

u will be over by almost $10000 by the time u file

Is this going to have a huge impact on my filing?

[ccsjoe]

Ouch, glad I filed already. Over 3K drop in CA, I'm over median by almost 17 as it was....would have been over median by 20K. Whew!!

[rjmwx81]

Is this going to have a huge impact on my filing?

That depends on what you would call a huge impact. I see from your post that you were already over the median, so in a practical sense not much has changed for you. You would have had to pass the full means test anyway.

[Freddy03]

That depends on what you would call a huge impact. I see from your post that you were already over the median, so in a practical sense not much has changed for you. You would have had to pass the full means test anyway.

Yeah I did pass the full means test. I guess I'll just keep my fingers crossed.

[rjmwx81]

Yeah I did pass the full means test. I guess I'll just keep my fingers crossed.

Yeah you should be ok then. The people who this really affects are those who would have been below median, but will now be over.

[ccsjoe]

Reverse my earlier comment. I just went through all the IRS numbers for post Nov 1. The only change was the state median income. All others (food, housing, etc) remained the same.

[Freddy03]

Reverse my earlier comment. I just went through all the IRS numbers for post Nov 1. The only change was the state median income. All others (food, housing, etc) remained the same.

Urgh I didn't even think of that Joe! Thanks - running to check now!

[scorpion35]

Ouch. Remember though that the median income is only part of the situation. You might still be able to get a Chapter 7, you just have to go through the whole means test.

Edited to add: It also means your Schedule J will probably get a closer inspection, so be prepared for that.

how much closer?