New Means Test numbers on April 1
Median income numbers for the bankruptcy Means Test in Wisconsin will go up on 4/1/2020 as follows:
1 person household: $52,730
2 person household: $68,363
3 person household: $83,607
4 person household: $100,098
Add $9,000 for each individual in excess of 4.
If your gross income is under those amounts you will almost always pass the Means Test and be able to file a Chapter 7 case. If you are over those amounts, you may or may not pass the Means Test, but it becomes a lot more complicated. When you are over those median amounts, the kinds and amounts of your debts become very important. For example, having large amounts of tax debt or child support debt can allow an above-median income earner to pass the Means Test. Also, deductions from your paycheck for health, disability and life insurance, union dues, child support and taxes can help you pass the Means Test. To know for sure, your pay stubs from the past 6 calendar months need to be examined by a bankruptcy attorney.