Florida Means Test Changes Nov. 1, 2014

The Florida bankruptcy means test figures change again on November 1, 2014.  The median income figures both increase and decrease.  For a household of 1, there is a slight increase to $42,036.00;  for a household of 2, a slight decrease to $51,584.00;  for a household of 3, a large increase to $57,052.00;  and for a household of 4, a large increase to $66,461.00.  The median income increases an additional $8100 for each additional member of the household.  Overall, the median income figures have increased.  This means higher incomes will be considered as under median income for purposes of eligibility for chapter 7. (This also affects the length of the required fort lauderdale chapter 13 bankruptcy.  You can contact us to explain the “applicable commitment period” of 3 or 5 years.)