MLchartDataset catalogue

Current monthly income

Term · Law · MLC-T-LAW-001444

A debtor's average monthly income calculated over the six-month period preceding the filing of a bankruptcy petition. This figure is used in Chapter 7 and Chapter 13 bankruptcy cases to determine if a debtor qualifies for Chapter 7 relief or to calculate payments in Chapter 13. It is a key component of the bankruptcy means test.

Table 1. Record
IdentifierMLC-T-LAW-001444
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001444",
  "term": "Current monthly income",
  "field": "Law",
  "definition": "A debtor's average monthly income calculated over the six-month period preceding the filing of a bankruptcy petition. This figure is used in Chapter 7 and Chapter 13 bankruptcy cases to determine if a debtor qualifies for Chapter 7 relief or to calculate payments in Chapter 13. It is a key component of the bankruptcy means test.",
  "url": "https://mlchart.com/terminology/law/current-monthly-income/"
}

Record 1,302 of 5,445 in Law terminology (MLC-0107). Request the full dataset.