Chapter 7 Bankruptcy Massachusetts Income Limits 2024

The 2024 Massachusetts median income limits are often updated in May and November for Chapter 7 bankruptcy qualification. See the figures below.
Information in this article does not constitute legal advice, it is for informational purposes only, and may not constitute the most up-to-date information. Readers should contact their attorney for advice on any particular legal matter.

Massachusetts income limit can change about 2x per year. It is important to view the most updated data when determining your qualification status for a chapter 7 bankruptcy. It updates 2x per year generally. 

You can gauge qualification by taking our means test calculator, going to this government website, or viewing the numbers in the below visual. 

Keep in mind, that depending on your household size, you may have to add $9900 per additional member that surpasses the below numbers.

# of PeopleAnnual Income
1$81,170
2$103,404
3$127,323
4$161,149
5$171,049
6$180,949
7$190,849
8$200,749
9$210,649

Massachusetts Means Test Calculator

If you are unsure as to whether or not you may qualify for a Chapter 7 bankruptcy, feel free to take our free Chapter 7 calculator. The calculator was designed with you in mind and is based on the bankruptcy means test forms in Massachusetts! We want to make sure you understand your eligibility, along with the other options that may be available to you based on your individual situation.


More News Stories

May 18, 2024
Have You Considered These 10 Options Before Filing for Bankruptcy

While bankruptcy is a popular solution out of debt, there are other ways to get rid of debt. If you have been reading up on bankruptcy, and it does not sound like something you would like to proceed with, there are numerous other alternatives for you. For example, you could consider home co-investment, which is different from HELOC and reverse mortgage and doesn't need monthly payments.

Read story
May 18, 2024
A Guide on How a Bankruptcy Trustee Appraises Your Home

Whether you file Chapter 7 or Chapter 13 bankruptcy, the value of your home will have an impact on your bankruptcy case. The bankruptcy trustee assigned to your case will first review the value of your home. The review will help them determine if you have non-exempt equity that you could use to pay your unsecured debts. Let us cover the basics before getting into how a trustee values your home.

Read story
May 18, 2024
Social Security Income and Disability Benefits When Taking a Bankruptcy Means Test

Before filing for bankruptcy, you need to take a Chapter 7 bankruptcy means test.

Read story