Median income for Chicago bankruptcy cases

The median income for Chicago bankruptcy cases will be adjusting again!!  The IRS and US Bankruptcy court uses the median income level to determine what chapter a bankruptcy debtor is eligible for.   These numbers are adjusted periodically.   Unfortunately, these numbers are going down, effective November 1, 2023. 

Household Size:              1                         2                          3                                4

Current: ILLINOIS           $67,102              $84,892             $101,951                   $122,289

EFFECTIVE 11/1/2023    $64,303              $83,024             $101,710                   $120,079

For Each additional household member – add $9,900
These figures are used in completing Bankruptcy Forms 122A-1 and 122C-1
The information can be found here:
I’m happy to do a prospective case review for you and will discuss the impact the median income for Chicago bankruptcy cases will have on a case.   Give me a call at 312-346-7400 or submit your information here for a free bankruptcy consultation. 
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About Author

Terrance Leeders

Chicago Bankruptcy Lawyer, husband, father, Cubs fan.

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