Question

Cindy lives in Connecticut and makes $59,000 a year. If the median annual income in Connecticut is $68,595 and the median annual income in the united states as a whole is $50,233 is Cindy likely to qualify for chapter 7 bankruptcy?

Answer 1

Yes, Cindy qualifies for chapter 7 bankrupcy. When you are looking up information on how and what qualfiies you for bankrupcy, you need to know the medium annual income of the state you live in. In Cindy's case, the median annual income in Connecticut is $68,595 and she makes $59,000. Since Cindy makes less than the median annual income of her state, she qualifies.