New Median Income Figures for Las Vegas Nevada Bankruptcy Cases Effective May 1, 2020

If you live in Las Vegas, Nevada and are looking to file bankruptcy,  you should be aware of the median income. The median income is used for the “Means Test” in determining whether you qualify to file under Chapter 7 or Chapter 13.  To qualify for Chapter 7 in Las Vegas, Nevada, the your income must typically be below the median income.

As of May 1, 2020, the revised median income figures for Nevada released by the United States Trustee will apply to bankruptcy cases filed after that date under Chapter 7 and Chapter 13.   The new figures reflect a slight increase in median income in Nevada for certain family sizes.

   Median Income
Household Size Annual Monthly
1 Earner $52,449 $4,371
2 People $65,756 $5,480
3 People $74,856 $6,238
4 People $81,528 $6,794
5 People $90,528 $7,544
6 People $99,528 $8,294
7 People $108,528 $9,044
8 People $117,528 $9,974

Add $9,000 (or $750/month) for each additional person.  For additional information on how to calculate your household size or for information regarding how the median income is used in determining whether you qualify for Chapter 7 and/or Chapter 13, please contact the Las Vegas Nevada bankruptcy attorneys at Luh & Associates.

New Median Income Figures for Las Vegas Nevada Bankruptcy Cases Effective May 1, 2020

Luh & Associates would like to thank our clients and peers whose trust enabled Jason Ferris and Craig Slater (cover page) to be recognized this year in Nevada Business Magazine’s Legal Elite, 2017.

You can read about their selection here.

“Surround yourself with the best people you can find . . .” – Ronald Reagan

You decided it is time to get control back into your life. You decided to file for bankruptcy in Las Vegas. The problem is, however, you don’t know a thing about it or where to find a Las Vegas lawyer.

Questions such as will I lose my house and car worry you. Will my credit recover? Can I live a normal life again?

When filing for bankruptcy, it helps to know what you’re getting into. Last week, we discussed Chapter 7 bankruptcy. We touched on what this type of bankruptcy can and cannot do for you, and how some situations require Chapter 13 bankruptcy. Today, we will discuss what Chapter 13 bankruptcy is and how a bankruptcy attorney can help you.

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New Median Income Figures for Las Vegas Nevada Bankruptcy Cases Effective May 1, 2020

Luh & Associates is proud to announce that two of its attorneys were selected as Nevada’s Legal Elite.  Congratulations to Charlie Luh and Adam Trippiedi.

Read More

New Median Income Figures for Las Vegas Nevada Bankruptcy Cases Effective May 1, 2020

Generally, the median income is used for the “Means Test” in determining whether you qualify to file under Chapter 7 or Chapter 13.  To qualify for Chapter 7, the debtor’s income must typically be below the median income.

Read More

New Median Income Figures for Las Vegas Nevada Bankruptcy Cases Effective May 1, 2020Generally, the median income is used for the “Means Test” in determining whether you qualify to file under Chapter 7 or Chapter 13.  To qualify for Chapter 7, the debtor’s income must typically be below the median income.

Read More

New Median Income Figures for Las Vegas Nevada Bankruptcy Cases Effective May 1, 2020

Generally, the median income is used for the “Means Test” in determining whether you qualify to file under Chapter 7 or Chapter 13.  To qualify for Chapter 7, the debtor’s income must typically be below the median income.

Read More

New Median Income Figures for Las Vegas Nevada Bankruptcy Cases Effective May 1, 2020Generally, the median income is used for the “Means Test” in determining whether you qualify to file under Chapter 7 or Chapter 13.  To qualify for Chapter 7, the debtor’s income must typically be below the median income.

Read More

In order to file for Chapter 13, you have to be an individual (i.e., you cannot be a corporation or partnership).

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