There are certain income requirements to file a Chapter 7.  That amount typically adjusts for inflation twice per year.  That amount varies based on your household size and by state.

In the State of Florida the amounts are as follows:

One person household:              $60,429

Two-person household:              $74,131

Three-person household:            $83,396

Four-person household:             $100,476

Five-person household:               $110,376

Six-person household:                $120,276

Dependents in your household include children under the age of 18.  If custody is split, we usually factor in how much time the child spends at your residence and how many children there are.  If custody is split 50/50 and there are two children, we would list a two-person household.  Children under the age of 24 that are in school full-time can also be considered dependents or any disabled children.  If there are elderly parents living in the household, they can be considered in the household size or any other relatives.  However, if any person is included in the household size, we need to include their income and expenses as well.  Social security does not count towards the income amount.

If you are still over that amount, there is still a potential you could qualify for a chapter 7 if you “pass” the long form of the means test.  The means test is required for all those debtors who are over the “median”.  The test determines your eligibility for a Chapter 7 or the amount of your plan payment in a Chapter 13.  It uses some of your actual expenses and some expenses are determined by the IRS guidelines based on your household size and county where you reside.  It can get a bit complicated, so it is good to consult with a bankruptcy attorney to guide you through the process.




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