“We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”

STOCKTON

(209) 475-0499

SACRAMENTO

(916) 971-8880

STOCKTON

(209) 475-0499

SACRAMENTO

(916) 971-8880

When taking the median test, you first have to figure out your average monthly income during the six months preceding bankruptcy and multiply this number by 12 to see how you measure up against the median.  The six-month period is determined as ending on the last day of the calendar month immediately preceding your bankruptcy.  Income does not include social security benefits, payments to victims of war crimes or crimes against humanity, or payments to victims of terrorism.  Just about everything else is considered income, whether its taxable or not, including: wages, salary, fees, commissions, bonuses, retirement income, tax refunds, net income from any business dealings and sales of assets, net rental income, your share of any partnership income, and support payments you receive.  In addition, any money that others regularly contribute toward your living expenses, scholarships and other educational benefits, insurance payments and reimbursement under health and accident plans, prizes and awards, gifts and inheritances are also considered income.

If your income is equal to or less than the median and you have all the information required, your bankruptcy attorney in Carmichael should charge you less for handing your bankruptcy.  BARF determines current monthly income by examining all your average gross earnings for the past six months, not just take-home pay.  Usually your spouse’s income is included whether you file bankruptcy jointly or not.  Also, income taxes and other wage withholdings aren’t deducted in determining your income.  They’re deduced as expense items.

If you are having financial hardship and are considering filling for bankruptcy, please call bankruptcy attorney in Carmichael at our office at (916) 971-8880 for a FREE confidential bankruptcy consultation.

Click here to fill out our FREE Confidential Bankruptcy Case Consultation form.

“We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”

Law Office of Robert W. Fong
Robert W. Fong
6825 Fair Oaks, Blvd., Suite 101
Carmichael, CA 95608
TEL: (916) 971-8880