Liquidation Under the Bankruptcy Code
The chapter of the Bankruptcy Code providing for "liquidation," ( i.e., the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors.)
a. Alternatives to Chapter 7
b. Background
c. Chapter 7 Eligibility
d. How Chapter 7 Works
e. Role of the Case Trustee
f. The Chapter 7 Discharge
Don't be frightened by the reference to "non exempt property." You can keep your car, even your house. Chapter 7 can work to free you of credit card and other unsecured debts and many people file without a lawyer. 99 percent of chapter 7 petitions are granted! Don't suffer needlessly, free yourself up!
Census Bureau Median Family Income By Family Size
(Cases Filed Between February 1, 2007, and October 14, 2007, Inclusive)
The following table provides median family income data reproduced in a format designed for ease of use in completing Bankruptcy Forms B22A and B22C. The State Median Family Income by Family Size data is available for download in MS Excel format. [XLS - 20 kb]
* For cases filed on or before March 31, 2007, add $6,300 for each individual in excess of 4.
For cases filed on or after April 1, 2007, add $6,900 for each individual in excess of 4.
Census Bureau Median Family Income By Family Size
(Cases Filed Between February 1, 2007, and October 14, 2007, Inclusive)
The following table provides median family income data reproduced in a format designed for ease of use in completing Bankruptcy Forms B22A and B22C. The State Median Family Income by Family Size data is available for download in MS Excel format. [XLS - 20 kb]
.
This may be a bit confusing but bear with it. As an example, if you live in Alabama and have four people in your family and your income is $55,424 per year based on your most recent six months of income or less you can file chapter seven and get free of your credit card and other unsecured debts. If you live in New York and live alone and make less than $48,896 you can file and get free, etc.
It's your right! If you did not get the credit through fraud you have no reason to feel bad about freeing yourself from this burden and getting started over with your life!
FAMILY SIZE
STATE
1 EARNER
2 PEOPLE
3 PEOPLE
4 PEOPLE *
Alabama
$33,709
$43,205
$48,007
$55,424
Alaska
$47,538
$62,953
$70,239
$79,033
Arizona
$38,703
$50,201
$53,241
$63,076
Arkansas
$31,788
$40,738
$45,242
$53,904
California
$44,499
$59,086
$64,118
$72,996
Colorado
$42,886
$60,782
$63,609
$72,571
Connecticut
$53,553
$65,930
$78,828
$95,183
Delaware
$46,641
$59,238
$65,373
$78,752
District of Columbia
$36,491
$55,427
$56,392
$56,392
Florida
$37,985
$46,914
$52,648
$64,280
Georgia
$37,588
$50,376
$55,293
$66,508
Hawaii
$46,769
$55,005
$69,733
$81,799
Idaho
$36,025
$47,056
$50,453
$54,165
Illinois
$42,995
$54,599
$64,184
$74,705
Indiana
$38,765
$48,841
$57,289
$66,649
Iowa
$37,265
$50,432
$58,764
$67,693
Kansas
$37,814
$50,244
$55,862
$67,026
Kentucky
$33,701
$41,560
$50,772
$56,768
Louisiana
$33,001
$40,565
$48,596
$57,752
Maine
$36,853
$47,228
$60,054
$66,899
Maryland
$50,509
$65,820
$78,211
$92,502
Massachusetts
$51,543
$60,368
$75,099
$88,179
Michigan
$42,596
$50,665
$61,052
$73,853
Minnesota
$44,147
$57,125
$70,908
$79,895
Mississippi
$29,299
$38,143
$42,964
$49,268
Missouri
$36,567
$46,246
$56,248
$65,909
Montana
$32,789
$46,005
$50,307
$57,438
Nebraska
$37,305
$50,374
$58,832
$66,893
Nevada
$40,682
$55,585
$57,303
$63,772
New Hampshire
$47,081
$57,089
$72,867
$84,155
New Jersey
$53,557
$63,357
$80,239
$93,176
New Mexico
$32,695
$44,498
$44,498
$49,781
New York
$42,896
$51,994
$62,815
$74,501
North Carolina
$34,339
$46,066
$52,160
$61,402
North Dakota
$38,146
$48,555
$58,684
$61,862
Ohio
$39,746
$47,874
$58,475
$68,890
Oklahoma
$34,072
$43,327
$48,423
$54,854
Oregon
$41,458
$50,455
$55,104
$63,946
Pennsylvania
$41,706
$48,612
$62,168
$70,863
Rhode Island
$43,805
$56,605
$67,787
$80,826
South Carolina
$33,147
$45,063
$49,846
$59,803
South Dakota
$31,605
$45,741
$56,685
$63,289
Tennessee
$34,670
$43,487
$52,380
$58,711
Texas
$34,418
$48,849
$51,678
$59,369
Utah
$42,244
$49,107
$54,948
$59,872
Vermont
$39,651
$52,008
$65,812
$73,688
Virginia
$46,601
$58,815
$69,692
$79,931
Washington
$45,516
$56,126
$60,597
$74,432
West Virginia
$34,607
$38,704
$47,613
$53,981
Wisconsin
$39,919
$52,774
$63,266
$73,359
Wyoming
$38,003
$51,498
$60,795
$64,966
* For cases filed on or before March 31, 2007, add $6,300 for each individual in excess of 4. For cases filed on or after April 1, 2007, add $6,900 for each individual in excess of 4.
COMMONWEALTH ORU.S. TERRITORY
FAMILY SIZE
1 EARNER
2 PEOPLE
3 PEOPLE
4 PEOPLE *
Guam
$33,634
$40,214
$45,828
$55,457
Northern Mariana Islands
$22,586
$22,586
$26,278
$38,650
Puerto Rico
$19,200
$19,200
$21,955
$26,788
Virgin Islands
$26,686
$32,075
$34,197
$37,467
* For cases filed on or before March 31, 2007, add $6,300 for each individual in excess of 4. For cases filed on or after April 1, 2007, add $6,900 for each individual in excess of 4.
Last Update: March 15, 2007 12:01 PM U.S. Trustee Program/Department of Justiceusdoj/ust/smm
COMMONWEALTH OR U.S. TERRITORY |
FAMILY SIZE |
|||
1 EARNER |
2 PEOPLE |
3 PEOPLE |
4 PEOPLE * |
|
| Guam | $33,634 | $40,214 | $45,828 | $55,457 |
| Northern Mariana Islands | $22,586 | $22,586 | $26,278 | $38,650 |
| Puerto
Rico |
$19,200 | $19,200 | $21,955 | $26,788 |
| Virgin Islands | $26,686 | $32,075 | $34,197 | $37,467 |
|
* For cases filed on or before March 31, 2007, add $6,300 for each individual in excess of 4. For cases filed on or after April 1, 2007, add $6,900 for each individual in excess of 4. |
||||
March 15, 2007 12:01 PM
U.S. Trustee Program/Department of Justice
usdoj/ust/smm
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