Bankruptcy Means Test Calculator For Owensboro, KY

Means Test Calculator for Daviess County

Bankruptcy Means Test Calculator
for Owensboro,Kentucky (Daviess County)

For cases filed on or after May 15, 2022

Based on numbers published by the U.S. Trustee's office for Cases Filed filed on or after May 15, 2022.)

Welcome to the Means Test Calculator

Hello, and welcome to the means test calculator, based on the revised means test forms, effective 4/1/2022).

The calculator does NOT ask for and personal identifying information, other than your zip code, to choose the correct county to lookup expense standards. We've tested the calculator, and feel it's worthy of launching to the public. It's free to use. Please let us know if you find any flaws, and we will fix them.

Note: The calculator now saves your data whenever you press Enter (or Return) within a field or click Save. After saving your data, you must refresh the page to see your updated values integrated into the summaries and the table of contents, which appear outside the form itself. 

So, if you notice stale data in the table of contents or the summary, make sure you save your data (by clicking Save or hitting Enter while in a field) and then refresh the page. 

Top Intro TOC Form B122A-1 Form B122A-1Supp Form B122A-2

Introduction: Are You Eligible for Chapter 7 Bankruptcy?

Despite what you may have heard about changes in bankruptcy law, most people who need bankruptcy protection are still eligible.

Are you?

This calculator will help you find out.

It applies the formulas, regional income and expense standards, and calculations of the new "means test" that was a cornerstone of BAPCPA, the 2005 bankruptcy law (11 U.S.C. 707(b)). It uses the language and formatting of the new, 2014 version of Official Form B122A-1Official Form B122A-1Supp, and Official Form B122A-2 , just a few of several forms you will need to complete if you decide to file for bankruptcy.

Read the instructions carefully (for official instructions for PDF forms, click here). If you are unsure whether an item applies to your situation, make a note of your question. Ask a bankruptcy lawyer about it if you go for a free consultation.

Quick Test:
Kentucky State "Median Income" Test

Compare your household income over the past six calendar months to the state median. If your monthly household income is less than the Kentucky median income for a household of your size, you are presumed to be eligible to file for Chapter 7 bankruptcy under Section 707(b)(2).

Kentucky Bankruptcy InformationMedian Household Income Test for Kentucky

Compare your household income to the Kentucky median income.

For Cases Filed on or after May 15, 2022.

Form B122A-1 requires you to:

The chart below makes it a bit simpler to figure out. Compare your six-month total income over the last six calendar months to the "6 Mo. Total" in the chart below to get a rough idea of which side of the line you fall. Pay attention to the rules about household size.

Kentucky Median Income Test
Form B122A-1 (Line 13)

Household
Size ?
Monthly
Income
6 Month
Total
Annual
Income
1 $4,332 $25,989 $51,978
2 $5,149 $30,895 $61,790
3 $5,958 $35,751 $71,501
4 $7,209 $43,254 $86,508
5 $8,034 $48,204 $96,408
6 $8,859 $53,154 $106,308
7 $9,684 $58,104 $116,208
8 $10,509 $63,054 $126,108
9 $11,334 $68,004 $136,008
10 $12,159 $72,954 $145,908
< If LESS You Pass! - Chapter 7 is an option. Not legally required to complete Form B122A-2, but may want to anyway.*
> If MORE - Keep Going! - You must complete Form B122A-2 to determine if Chapter 7 is available.

Sources: U.S. Trustee Program, Department of Justice , 11 U.S.C. Sec. 707(b)(7) exclusion. Official Form B122A-1, Line 13

Source: U.S. Trustee, U.S. Department of Justice (for bankruptcy cases filed filed on or after May 15, 2022)

(*The applicable household size is the number that would currently be allowed as exemptions on your federal income tax return, plus the number of any additional dependents whom you support.)

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Means Test - Part 2: County Expense Standards For Daviess County

This part is relevant only if your income is above the state median income. If so, you will need to determine your monthly expenses, using the monthly expense allowance standards for Daviess County.

Monthly Expense Standards for Daviess County, Kentucky
For cases filed on or after May 15, 2022
  EXPENSES
Fam. Size: (Line 5) Non-Mortgage Housing expenses (Line 8) Mortage & Rent (Line 9)
1 $588 $736
2 $690 $864
3 $727 $911
4 $810 $1,016
5 $824 $1,032
6 $824 $1,032
7 $824 $1,032
8 $824 $1,032
9 $824 $1,032
10 $824 $1,032

Sixth Circuit
Fed Ct: Kentucky Western District Bankruptcy Court
Region: Western Kentucky
Subregion: Evansville-Owensboro Area
Metro (MSA): Owensboro KY
County: Daviess (p.96,656)
LOC:Daviess
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