Allowable Living Expenses -- Means Test Calculation, Allowable Living Expenses

 

 

 

New Client Inquires:

866-617-8290
Additional Contact Information
                       Home     |     About Us     |     Bankruptcy Practice     |     Bankruptcy Resources    |     Contact       Free Consultation
Bankruptcy Resources

Bankruptcy Resources

 

Important Information:

Your Initial Bankruptcy Consultation

What to Bring to Your Initial Bankruptcy Consultation

What to Expect During Credit Counseling

Completing Your Financial Management Course

Bankruptcy Means Test

 

FAQs:

Bankruptcy Law

Bankruptcy Cases

Bankruptcy Terms

 

Related links:

Bankruptcy Practice

About Us

Contact Us

Allowable Living Expenses

(IRS National Standards for bankruptcy Means Test -- Cases Filed On and After May 1, 2014)

Collection Financial Standards for Food, Clothing and Other Items

 

Expense One Person Two Persons Three Persons Four Persons
Food  $315 $588 $660 $794
Housekeeping supplies $30 $66 $65 $74
Apparel & services $88 $162 $209 $244
Personal care products & services     $34 $61 $64 $70
Miscellaneous $116 $215 $251 $300
Total $583 $1,092 $1,249 $1,482

 

More than four persons: Additional Amount Per Person
For each additional person, add amount to four-person total allowance: $298

 

Bankruptcy Allowable Living Expenses — National Standards

 

Expense One Person Two Persons Three Persons Four Persons
Food & clothing (apparel & services)* $403 $750 $869 $1,038
5% of food & clothing $20 $38 $43 $52

 

More than four persons Additional Amount Per Person
Food & clothing (apparel & services)* $209
5% of food & clothing $10

 

* This total may differ from the combination of the two amounts in the Collection Financial Standards table due to rounding.

 

Bankruptcy Means Test