Question

The Vaughns make $58,000 a year and live in Florida, which has a median annual income of $47,778. If their monthly expenses amount to $4600 per month, do they qualify for Chapter 7 bankruptcy?
A. No, the Vaughns do not qualify because their yearly income is above the median annual income of Florida and they are ineligible according to the means test.
B. Yes, the Vaughns qualify because their yearly income is above the median annual income of Florida and they are eligible according to the means test.
C. Yes, the Vaughns qualify because their yearly income is above the median annual income of Florida. The means test is irrelevant in this case.
D. No, the Vaughns do not qualify because their yearly income is above the median annual income of Florida. The means test is irrelevant in this case.

Answer 1

Answer: it’s no they do not qualify because their yearly income is above the median annual income of Florida and they are ineligible According to the mean test

Explanation:

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