Rhode Island Statement of Current Monthly Income for Use in Chapter 11 - Post 2005
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How to fill out Statement Of Current Monthly Income For Use In Chapter 11 - Post 2005?
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FAQ
Current monthly income (CMI) is the average income from all sources in the six months prior to filing for bankruptcy. A person's CMI determines their eligibility for Chapter 7 bankruptcy which requires a person's CMI to be below the state median or pass a multi-factored test. current monthly income | Wex - Law.Cornell.Edu cornell.edu ? wex ? current_monthly_in... cornell.edu ? wex ? current_monthly_in...
If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7. Chapter 7? - Rhode Island Bankruptcy Means Test rhodeislandbankruptcy.com ? means-test rhodeislandbankruptcy.com ? means-test
Official Form 122A-1 (Chapter 7 Statement of Your Current Monthly Income), Official Form 122A-1Supp (Statement of Exemption from Presumption of Abuse Under § 707(b)(2)), and Official Form 122A-2 (Chapter 7 Means Test Calculation) (collectively the ?122A Forms?) are designed for use in chapter 7 cases. Means Testing - U.S. Trustee Program - Department of Justice Department of Justice (.gov) ? ust ? means-testing Department of Justice (.gov) ? ust ? means-testing
The means test is calculated by comparing the debtor's average income for the past six months (current monthly income), annualized, to the median income for households of the same size in the debtor's state of residence.