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The United States Trustee Program is a component of the United States Department of Justice that is responsible for overseeing the administration of bankruptcy cases and private trustees. [1] The applicable federal law is found at 28 U.S.C. § 586 and 11 U.S.C. § 101 , et seq.
The applicable median income figure is adjusted by family size. Generally, the larger the family, the greater the applicable median income figure and the more money the debtor must earn before a presumption of abuse arises. A chart of the most recent applicable median incomes by state can be found at the US Trustee's website. [3]
Incomes vary quite a bit throughout the United States. The median income is $70,260, according to the 2022 Survey of Consumer Finances (SCF). But households in the top 10% make significantly more.
Overall, including all households/individuals regardless of employment status, the median household income was $67,521 in 2020 while the median personal income (including individuals aged 15 and over) was $35,805. [5] [6] While wages for women have increased greatly, median earnings of male wage earners have remained stagnant since the late 1970s.
According to the U.S. Census Bureau, the median weekly earnings of full-time wage workers was $1,143 in Q2 of 2024. Meanwhile, the median annual income for Americans in 2022 was $75,149.
That's how much the median household is worth relative to the median income of the group. For example, a typical household with an income in the 50th percentile group, around $70,000 per year, has ...
The Bureau of Labor Statistics reported a median weekly personal income of $1,139 for full-time workers in the United States in Q1 2024. [1] For the year 2022, the U.S. Census Bureau estimates that the median annual earnings for all workers (people aged 15 and over with earnings) was $47,960; and more specifically estimates that median annual ...
The median wealth of lower-income households shot up 101% between December 2019 and December 2021, while the middle class enjoyed a 29% increase. Upper-income households saw their net worth rise ...