The United States Trustee’s Office has released new median income/means test numbers applicable to bankruptcy cases filed on October 15, 2007 and thereafter. The new median income table for bankruptcy cases can be found by clicking on the link.
Here are the new median income numbers for Georgia families:
| Family Size | Old Median Numbers (February 1, 2007 – October 14, 2007) |
New Median Numbers (October 15, 2007 – February 12, 2008 (anticipated) |
| 1 | $37,588 | $38,086 |
| 2 | $50,376 | $50,001 |
| 3 | $55,293 | $57,254 |
| 4 | $66,508 | $66,711 |
In looking at this table, it appears that the change in the median income figures is less, on a percentage basis, than previous adjustments. Higher median income numbers make it easier to fit into Chapter 7, so this October 15, 2007 table will not help most debtors. In fact, the median income figure for a household of two has declined, meaning that a bankruptcy filer in a two person household will find it more difficult to fit into a Chapter 7 post October 15, 2007 than he would if he filed prior to October 15, 2007.
[tags] median income figures for bankruptcy cases, median income test, means test, USDOJ [/tags]