Median Income for Illinois Households
For cases filed on or after November 1, 2024. Source
| Household Size | Annual Income | Monthly Income |
|---|---|---|
| 1 | $67,617 | $5,634.75 |
| 2 | $86,279 | $7,189.92 |
| 3 | $105,384 | $8,782.00 |
| 4 | $128,739 | $10,728.25 |
| 5 | $138,639 | $11,553.25 |
| 6 | $148,539 | $12,378.25 |
Significance of Median Household Income in Chapter 7
Simply stated, having an income below the applicable income ceiling makes it easier to qualify for chapter 7 relief.
If your income is above the applicable ceiling, you can still qualify for chapter 7 relief but you have to take and pass the means test.
Significance of Median Household Income in Chapter 13
Having an income below the applicable income ceiling qualifies you for the shorter 36-month chapter 13 plan repayment period.
If your income is above the applicable ceiling, the chapter 13 plan repayment period must be 60 months.
Finally, if your income is above the applicable ceiling, you have to use a certain formula to calculate how much you have to pay back to your creditors (this may result in higher monthly payments and a more expensive chapter 13 case).