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Philadelphia Bankruptcy Attorney Dan Mueller of Harborstone Law Group represents consumers in bankruptcy and debt negotiation matters throughout Philadelphia, Montgomery County, Delaware County, and Bucks County in Pennsylvania.

Pennsylvania Median Income Changes for 2014 – More Debtors Qualify for Bankruptcy

Pennsylvania Median IncomeThe Pennsylvania median income will increase for most families as of April  1, 2014. As a result, it is likely that more debtors will qualify for Chapter 7 bankruptcy, and fewer Pennsylvanians will be required to take the means test or be forced to file under Chapter 13. Median Income has increased across the board. The latest Pennsylvania median income numbers are as follows:

 

Individual Family of 2 Family of 3 Family of 4*
$47,809 $56,690 $71,119 $83,162
*For each additional family member over four, add $8100.   Applies to cases filed on or after April 1, 2014.  Source: U.S. Census Bureau.

 

 

 

 

 

For more information on median Income and the important role it plays in Chapter 7 and Chapter 13 bankruptcy, see our updated Pennsylvania Median Income page.

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