The Pennsylvania median income will increase again for most families as of May 1, 2020. although there are some decreases on the lower end. Increases in the median income allow debtors to qualify for Chapter 7 bankruptcy. This increase should also help some debtors avoid the bankruptcy means test entirely. For Chapter 13 debtors, the median income determines whether the debtor may enter a thirty-six or sixty month Chapter 13 plan.
The latest Pennsylvania median income numbers are as follows:
|Individual||Family of 2||Family of 3||Family of 4||Family of 5||Family of 6*|
*For each additional family member over six, add $9000. Applies to cases filed on or after May 1, 2020. 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.