The South Carolina median income amounts for Bankruptcy purposes are below. Some people might make too much money to qualify for Chapter 7 Bankruptcy. If you are below the median income, this is probably not going to be an issue. If you are above median income, you can still qualify for Chapter 7 if you pass the Means Test which looks at all your expenses from the six months prior to the filing. You can find out more about the Means Test here. We will review this information with you in great detail. If you do not pass the mean’s test, you might need to file or convert a case to Chapter 13. In that situation, we will work with you on a budget and make a plan to repay your creditors at an amount that is affordable for you and acceptable to the court, trustee and creditors. We will find the right solution for you.
South Carolina median income for Bankruptcy (effective as of 4/1/23):
Family Size 1: $59,511.00
Family Size 2: $72,416.00
Family Size 3: $82,114.00
Family Size 4: $100,609.00
Family Size 5: $110,509.00
Family Size 6: $120,409.00
Family Size 7: $130,309.00
Family Size 8: $140,209.00
Add $9,900 for each excess individual