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Karolina [17]
3 years ago
11

Axel lives in Virginia and makes $54,000 a year. If the median annual income in Virginia is $61,233 and the median annual income

in the United States as a whole is $50,233, is Axel likely to qualify for Chapter 7 bankruptcy?
Mathematics
2 answers:
Natalka [10]3 years ago
3 0

Answer:

The answer is Yes Axel will qualify for chapter 7 bankruptcy.

Step-by-step explanation:

To qualify for a Chapter 7 bankruptcy, the debtor must earn less than the state median income on a monthly basis. Here it is given that Axel lives in Virginia and makes $54,000 a year. The median annual income in Virginia is $61,233. So, Axel is earning less than the median income. Hence, he will qualify for chapter 7 bankruptcy.

Dmitriy789 [7]3 years ago
3 0

Answer:

yes, axel is likely to qualify, because his yearly income is below the median annual income of virginia

Step-by-step explanation:

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