What Is The 2008 Median Income For Louisiana?

In a previous article,  I Live In Louisiana!  How Do I Know If I Can File A Chapter 7 Bankruptcy?, I discussed, among other things, the amount that a person can earn before they might have to file a Chapter 13 bankruptcy.  Known as Median Income, this amount increased for 2008 making it possible for a Louisiana resident to earn more than in previous years and still pass the means test.

For 2008 the amounts for Louisiana are:

• One Person:           $34,342.00
• Two Persons:         $42,682.00
• Three Persons:      $52,231.00
• Four Persons:        $61,874.00

For families with more than four members there is an additional $6,900.00 per person amount added.

As I stated in my previous article, even if your income is above the numbers listed here don’t assume that you must file a Chapter 13 bankruptcy.

The median income is the first part of the test.  An experienced attorney such as the attorney’s of the Bankruptcy Law Network can assist you in determining whether you can proceed in Chapter 7.