Updated Census Income Figures

Posted on October 28, 2005 by Kevin Chern Esq.

New bankruptcy laws recently passed require the use of a state median income. The number is calculated by the IRS and the Census Bureau, and their new estimates are about to come out. Several fellow bankruptcy attorneys have expressed concern over how these numbers will be adjusted, and what the new median incomes will be. Obviously for debtors near that median, it could be hugely important if they end up above or below that line; it could be the difference between filing for bankrutpcy and staying buried in debt. Check back with The Bankruptcy Lawyers Blog to see how this issue plays out.

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