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Bankruptcy: Median Incomes by State for Years 2001-2002 The Bankruptcy Code has been revised to make it harder for some debtors to have all unsecured debts liquidated in a Chapter 7 bankruptcy. Revisions to the Bankruptcy Code require a means test be used to determine how much debt must be repaid in a forced Chapter 13 bankruptcy. Debtors who make more than the median income in their state will probably be required to pay back at least some of their unsecured debts over a five year period. The figures below lists the median incomes earned by American households for the years 2001-2002 by state (more recent statistics could not be found). This data was compiled by the United States Census Bureau. The median incomes below are not the exact amounts the bankruptcy court in your region will use to determine if you qualify for Chapter 7 or Chapter 13 bankruptcy since they are several years out of date and your state government might use a median income calculated using different variables. The median incomes below are offered only to give you an idea of what the median income in your state might be. |
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$42,654 United States (overall) $36,661 Alabama $55,525 Alaska $41,559 Arizona $33,128 Arkansas $47,725 California $49.238 Colorado $53,791 Connecticut $50,020 Delaware $40,447 District of Columbia $37,512 Florida $43,096 Georgia $47,748 Hawaii $38,282 Idaho $44,808 Illinois $41,034 Indiana $41,338 Iowa $42,346 Kansas $37,905 Kentucky $33,930 Louisiana $37,024 Maine $55,394 Maryland $51,470 Massachusetts $44,239 Michigan $54,070 Minnesota $30,761 Mississippi |
$42,386 Missouri $33,736 Montana $43,550 Nebraska $45,542 Nevada $53,734 New Hampshire $53,581 New Jersey $34,554 New Mexico $42,375 New York $37,642 North Carolina $36,281 North Dakota $42,567 Ohio $36,317 Oklahoma $41,866 Oregon $43,344 Pennsylvania $44,434 Rhode Island $38,074 South Carolina $39,087 South Dakota $36,691 Tennessee $40,829 Texas $47,978 Utah $42,221 Vermont $50,336 Virginia $44,174 Washington $29,752 West Virginia $45,985 Wisconsin $40,057 Wyoming |
Debt > Bankruptcy > Median Incomes |
