New data released by the Census Bureau as of April 1, 2018 will result in it being a bit easier to qualify for Chapter 7 bankruptcy in either New Hampshire or Massachusetts.
Median income levels are used by the bankruptcy court to determine whether a debtor qualifies for a Chapter 7 case, and also to determine if a Chapter 13 debtor must file a three year plan or a five year plan.
Effective April 1, 2018, the median income levels in Massachusetts and New Hampshire are as follows:
MASSACHUSETTS:
One person household: $62,660.00
Two person household: $80,180.00
Three person household: $98,758.00
Four person household: $123,864.00
Five person household: $132,264.00
Six person household: $140,664.00
NEW HAMPSHIRE:
One person household: $64,531.00
Two person household: $75,856.00
Three person household: $92,263.00
Four person household: $115,926.00
Five person household: $124,326.00
Six person household: $132,726.00
Big family? Add $8,400.00 for each additional person.
If you are curious about how these figures vary state-by-state, you can check out this link:
https://www.bestcase.com/MeansTestChanges/MTtablesHTMLFinal/xIncome_DT18A_17A_Comp.Htm