The United States Trustee means test thresholds have been updated as of April 1, 2021.
These tables are used to determined if household income is too great to file a Chapter 7 bankruptcy. They are updated every year to account for inflation and the increased cost of living.
Household size is largely determined by the number of people living in the home who are claimed for Federal income tax purposes (with some exceptions). Most sources of income count towards the means test, and one-time payments or bonuses also count in the look-back period. Benefits derived from the Veterans Administration of Social Security do NOT count.
As an experienced bankruptcy attorney, I will be happy to discuss your income and whether or not you qualify under the means test.
The annualized income threshold as of April 1, 2021 are as follows:
Household of one: $57,919.00
Household of two: $71,448.00
Household of three: $88,293.00
Household of four: $105,138.00
Household of five: $114,138.00
Household of six: $123,138.00
Household of seven: $132,138.00
Call me at 412-414-9366 if you have questions about the means test, and how it applies to you. I would be happy to do a free consultation and see if bankruptcy is an option for you.