Tuesday, March 1, 2011

Median Income Figures for the State of Oregon

Currently, the annual gross median income figures for the State of Oregon are:
1 Person: $43,986;
2 People: $54,656;
3 People $59,546;
4 People $71,593;
5 People: $79,093;
6 People: $86,593;
7 People: $94,093;
8 People: $101,593
Each Additional, add: $7,500.

For bankruptcy filers being above this annual gross income figure may subject you to the "means test". The means test will determine if you are eligible for Chapter 7 bankruptcy. It will also play a role in what your estimated chapter 13 payment would be if you chose to file chapter 13.

For more means testing information you can visit the US Trustee's site at: http://www.justice.gov/ust/eo/bapcpa/20101101/meanstesting.htm.

For bankruptcy information in Oregon and Washington and to learn more about our firm, visit www.pacificbankruptcy.com.