Friday, June 11, 2010

What is the Median Family Income for Massachusetts?

The Median Family Income for Massachusetts as of March 15, 2010 is as follows:

Family size 1: $53,315 per year
Family size 2: $69,204 per year
Family size 3: $82,297 per year
Family size 4: $99,293 per year

add an additional $6,900 per year for each additional household member, up until April 1, 2009. For cases filed after April 1, 2009 add an additional $7,500 for each additional household member.

Under Part (a) of the Chapter 7 means test, if your income is greater than the median income for your state of residence and family size, then there is a presumption that you qualify for bankruptcy relief under chapter 7.

For more information on other states and a Median income Calculator visit our webpage, our mobile webpage designed for smart phones, or download our iPhone App.

Please note that these figures are subject to change and you should consult with an attorney for the current figures.

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