Respuesta :
No, the Campbells do not qualify because their yearly income is above the median annual income of Minnesota and they are ineligible according to the means test
Solution:
Monthly expenses amount of Campbells= $ 5200
Median annual income of Campbells=$57,288
Median monthly income of Campbells= [tex]\frac{57,288}{12}=4774[/tex]$
Yearly income of Campbells= $ 65,000
Monthly income of Campbells= [tex]\frac{65000}{12}=5416.67[/tex]
Since Monthly income of Campbells is more than Median monthly income of Campbells. So, they do not qualify for Chapter 7 bankruptcy.They have to give Mean test to qualify for Chapter 7 bankruptcy.
