Kansas Median Family Income Amounts
Did you Know? Your median income plays an important role in bankruptcy – it determines whether a person filing for Chapter 7 bankruptcy has to pass “The Means Test”, or not. The “Means Test looks at your income and expenses and determines if you can repay a certain amount to your creditors. If you can, you cannot file for Chapter 7 bankruptcy and instead must file for Chapter 13. However, if your income is lower than the median income for your family size, you don’t have to take the means test at all – you automatically qualify for Chapter 7 bankruptcy, assuming you meet other Chapter 7 eligibility criteria.
On April 1, 2019, automatic adjustments to the dollar amounts stated in various provisions of the Bankruptcy Code and one provision in Title 28 of the United States Code became effective. The adjusted dollar amounts will apply to cases filed on or after April 1, 2019.
Kansas Median Family Income Amounts For Means Test Effective After April 1, 2019:
1 Earner $50,416
2 People $66,443
3 People $75,902
4 People $85,144