Question

A family of 2 that has a monthly income of $4,650 is thinking about filing bankruptcy. In order to file for Chapter 7 bankruptcy, in which of the following states could the family be living?

State       Single-earner     2-person       3-person        4-person
Florida    $41,226              $52,259        $58,574         $69,009
Georgia    $40,691            $55,258        $61,104         $68,502
Missouri      $39,645          $51,568        $60,371        $71,059
Texas         $38,940           $55,859        $59,222         $66,381
Virginia      $48,362           $65,122        $74,151         $85,939


a. Georgia or Florida
b. Florida or Texas
c. Georgia or Virginia
d. Virginia or Texas

Answer 1

D. Annually, the 2 person income is $55,800, so are under the max income level in TX or Virginia.
HTH-

Answer 2

Texas or Virginia.

Explanation:

In this question monthly earning of the family is given as $4650 for 2 persons.

So annual earning of the family will be = $4650×12 = $55800

Given in the table minimum annual earning of Virginia for 2 persons is $65122 and for Texas is $55859.

According to these data annual earning of a family is much higher to live in Florida, Georgia and Missouri but low for Texas and Virginia.

So family is living either in Texas or Virginia.