As of November 1, 2011 the annual gross median income figures for the State of Oregon are:
Household of 1: $42,877
Household of 2: $52,316
Household of 3: $57,429
Household of 4: $66,616
Household of 5: $74,166
Household of 6: $81,616
Household of 7: $89,116
Household of 8: $96,616
If household greater than 8, add $7,500 per member per year.
The median income is important for bankruptcy purposes because it determines whether a debtor is subject to what is called the "means test". The means test is a formula that tells a debtor whether they are eligible for chapter 7 (despite being above median"), or whether they must file chapter 13 if they choose bankruptcy protection.
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