A Bankruptcy Paralegal speaks about Due Diligence in consumer bankruptcy cases

Updated Median Family Income figures go into effect on May 1, 2012

UpdateUpdate your bankruptcy software!

Chapter 7 and Chapter 13 bankruptcy cases filed on or after May 1, 2012 will use the new data for completing Form 22A and Form 22C. Debtors filing Chapter 7 cases use Form 22A for “means testing purposes” and Chapter 13 debtors use Form 22C to calculate disposable income.

What has been updated?

State Median Family Income and Administrative Expense Multipliers: The Census Bureau is the original source for this data.

National Standards for Allowable Living Expenses and Local Standards for Transportation and Housing and Utilities Expenses: The IRS is the original source for this data.

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