Judging Your Median Income with a Ft. Lauderdale Bankruptcy Lawyer

Median income figures are the starting point of the means test. They are the bar by which you compare your own income total (minus social security) to decide which type of bankruptcy you should file. The figures are effective as of November 1, 2011. Ft. Lauderdale bankruptcy attorney Jeffrey Solomon can help you assess your situation and advise you on the best path to take.

FLORIDA MEDIAN INCOME

Household Size	Household Income
1 person	$40,766
2 persons	$50,130
3 persons	$54,594
4 persons	$65,135
each additional person	add $7,500

If your income calculation places you below the median income, you can probably file Chapter 7. If your income calculation places you above the median income, then there is a greater chance that the law will require you to file a Chapter 13 Bankruptcy with a payment plan.

The means test can get quite complicated. You do not want to miss a critical point that could alter your choices. Contact a Ft. Lauderdale bankruptcy lawyer at the Law Office of Jeffrey Solomon to help you understand your full options.