Question

Cassandra lives in Oklahoma and makes $60,000 a year. If the median annual income in Oklahoma is $64,105 and the median annual income in the United States as a whole is $50,233, is Cassandra likely to qualify for Chapter 7 bankruptcy?

Answer 1

Yes, Cassandra is likely to qualify, since her yearly income is below the median annual income of Oklahoma.

Answer 2

Cassandra is likely to qualify for Chapter 7 bankruptcy.

Explanation:

Given scenario is : Cassandra lives in Oklahoma and makes $60,000 a year. The median annual income in Oklahoma is $64,105.

A person qualifies for chapter 7 bankruptcy, if his annual median income is below the median income of his state. So, here the annual median income of Cassandra is below the median income of her state, Oklahoma.

So, she will qualify for chapter 7 bankruptcy.