Updated May 31, 2024
Median Income for Illinois Households
The median income table is updated periodically.
The median income is set by the government for each state. It is updated periodically.
Importance in Chapter 7
Median income is the gateway to chapter 7 bankruptcy relief. In Chapter 7, the median income dictates your eligibility for filing a chapter 7 bankruptcy case – the Holy Grail of debt relief.
Importance in Chapter 13
In Chapter 13, the median income dictates your eligibility for a 36-month consolidation period (as opposed to 60 months). It also dictates the amount of your monthly payments.
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$20
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