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March 2013 Archives

Means Test median Income Rises April 1, 2013

The median income of New Yorkers has been going up, and so will the median income for "Means Test" purposes in bankruptcy. The means test of chapter 7, and the disposable income test of chapter 13 compare the household income of the bankruptcy debtor from the previous six months to the median income of a similarly-sized family in the state where they live.

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