Updates to Chapter 7 Bankruptcy Income Limits and Exemptions

As of November 1, 2018 there have been several updates to the Chapter 7 Bankruptcy Income Limits and Exemptions.

Ohio Income limits (after 11/1/2018);

1 Earner 2 People 3 People 4 people
Ohio $48,441.00 $60,822.00 $73,182.00 $87,321.00

 

Ohio Income Limits (Before 11/1/2018):

1 Earner 2 People 3 People 4 people
Ohio $48,596.00 $60,834.00 $70,529.00 $85,294.00

 

Wood County Housing and Utility Allowance** (After 11/1/2018);

1 Person 2 People 3 People
Utilities Mortgage/Rent Utilities Mortgage/Rent Utilities Mortgage/Rent
$491 $890 $576 $1,046 $607 $1,102

 

4 People 5 or More
Utilities Mortgage/Rent Utilities Mortgage/Rent
$677 $1,229 $688 $1,248

** Exceptions Apply; Please seek the advise of counsel for more detailed information.

Public Transportation Expense Limit  $178

Vehicle Operating Costs

1 Car 2 Cars
$196 $392

 

Vehicle Ownership Costs

1 Car 2 Cars
$497 $994

 

If you think Bankruptcy may be in your best interest, call us today for a free consultation.

-Posted by LAF