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Form 122A-1. This form is called the ?Chapter 7 Statement of Your Current Monthly Income.? This document simply helps you determine whether your income is below the median income of your state. If it is below the median, you have passed the means test. That means the other two forms in this list will not apply to you.
Current monthly income (CMI) is the average income from all sources in the six months prior to filing for bankruptcy. A person's CMI determines their eligibility for Chapter 7 bankruptcy which requires a person's CMI to be below the state median or pass a multi-factored test.
One easy way to calculate how much income would be per month is to total the payments earned in a year, then divide by 12 to get a monthly figure. For example, if you are paid annually, you would simply divide your annual salary by 12 to get the monthly amount.
Official Form 106I (Schedule I) is the form where you disclose your monthly household income. Official Form 106J (Schedule J) is the form where you disclose your current household monthly expenses. At the end of Schedule J, you will subtract your income from your expenses.
This is an Official Bankruptcy Form. Official Bankruptcy Forms are approved by the Judicial Conference and must be used under Bankruptcy Rule 9009.