{"id":670,"date":"2020-10-22T14:32:19","date_gmt":"2020-10-22T19:32:19","guid":{"rendered":"https:\/\/kevinkgipson.com\/?p=670"},"modified":"2020-10-22T14:32:19","modified_gmt":"2020-10-22T19:32:19","slug":"november-1-2020-census-bureau-median-family-income-released","status":"publish","type":"post","link":"https:\/\/kevinkgipson.com\/?p=670","title":{"rendered":"November 1, 2020 Census Bureau Median Family Income Released"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/kevinkgipson.com\/wp-content\/uploads\/2020\/10\/allinthefamilydebt2.jpg\" alt=\"\" class=\"wp-image-671\" width=\"352\" height=\"237\" srcset=\"https:\/\/kevinkgipson.com\/wp-content\/uploads\/2020\/10\/allinthefamilydebt2.jpg 740w, https:\/\/kevinkgipson.com\/wp-content\/uploads\/2020\/10\/allinthefamilydebt2-300x203.jpg 300w\" sizes=\"auto, (max-width: 352px) 100vw, 352px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.census.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\">United States Census Bureau<\/a> has released the Median Family Income amounts effective on November 1, 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The income amount is used as the starting point to determine whether a Debtor&#8217;s income is high enough to require them to file a <a href=\"https:\/\/kevinkgipson.com\/?page_id=36\" target=\"_blank\" rel=\"noreferrer noopener\">Chapter 13<\/a> Bankruptcy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the income, known as Median Family Income, is below the amount for the family size of the <a href=\"https:\/\/kevinkgipson.com\/?page_id=36\" target=\"_blank\" rel=\"noreferrer noopener\">Debtor<\/a>, then the Debtor can file a <a href=\"https:\/\/kevinkgipson.com\/?page_id=36\" target=\"_blank\" rel=\"noreferrer noopener\">Chapter 7<\/a> bankruptcy if they wouldn&#8217;t benefit from filing a Chapter 13.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For Louisiana the income amounts are as follows:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1 Person:  $46,909.00<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2 People:  $57,592.00<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">3 People:  $67,461.00<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">4 People:  $82,529.00<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Median Family Income increased by an additional $9,000.00 for each additional person in the household.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A State by State list of the Median Family Income is available on the <a href=\"https:\/\/www.justice.gov\/ust\/eo\/bapcpa\/20201101\/bci_data\/median_income_table.htm\" target=\"_blank\" rel=\"noreferrer noopener\">United States Trustee&#8217;s website.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The United States Census Bureau has released the Median Family Income amounts effective on November 1, 2020. The income amount is used as the starting point to determine whether a Debtor&#8217;s income is high enough to require them to file &hellip; <a href=\"https:\/\/kevinkgipson.com\/?p=670\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[181,17,46,123,189,190],"class_list":["post-670","post","type-post","status-publish","format-standard","hentry","category-bankrputcy","tag-bankrputcy","tag-chapter-13","tag-chapter-7","tag-median-family-income","tag-u-s-census","tag-u-s-trustee"],"_links":{"self":[{"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/posts\/670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=670"}],"version-history":[{"count":1,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/posts\/670\/revisions"}],"predecessor-version":[{"id":672,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=\/wp\/v2\/posts\/670\/revisions\/672"}],"wp:attachment":[{"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kevinkgipson.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}