November 1, 2022 Median Income Levels for Kansas and Missouri Bankruptcy Filers
The Means Test looks at your Median Income to determine for which Chapter of Bankruptcy you qualify:
Chapter 7 or Chapter 13
In pre-COVID fashion, on November 1, 2022, the Median Income Levels will change once again. Typically, Median Income Levels are adjusted each April and November. However, the April, 1, 2022 update was the first since May 15, 2021 due to data quality issues associated with the COVID-19 pandemic.
This November, Median income levels in Kansas are up just slightly for the one-person household. The two and 3-person household income levels have decreased. However; there is a fair increase for larger families. And in Missouri — the numbers are up across the board!
If your income has been on the border in the past, due to these changes (KS middle family), your ability to file for Chapter 7 Bankruptcy vs a Chapter 13 Bankruptcy might have changed.
Past Median Income Levels for Kansas:
1 Person $ 55,069
2 Person $ 75,845
3 Person $ 88,369
4 Person $ 98,454
5 Person $108,354
Median Income Levels for Kansas as of November 1, 2022:
1 Person $56,626
2 Person $73,843
3 Person $81,730
4 Person $104,767
5 Person $114,667
Past Median Income Levels for Missouri:
1 Person $53,547
2 Person $69,614
3 Person $80,022
4 Person $94,774
5 Person $104,674
Median Income Levels for Missouri as of November 1, 2022:
1 Person $56,633
2 Person $69,699
3 Person $82,882
4 Person $101,203
5 Person $111,103
You are presumed to qualify for Chapter 7 Bankruptcy if your household yearly income, as determined by the Means Test, is below the Median Income Level. However many factors determine which Chapter of Bankruptcy you may qualify for and which course of action is in your best interest.