Question

Curtis lives in New Hampshire and makes $52,000 a year. If the median annual income in New Hampshire is $63,731 and the median annual income in the United States as a whole is $50,233, is Curtis likely to qualify for Chapter 7 bankruptcy?

  A.

Yes, Curtis is likely to qualify, since his yearly income is below the median annual income of New Hampshire.  
B. No, Curtis is not likely to qualify, since his yearly income is above the median annual income of the United States as a whole.  
C. Yes, Curtis is likely to qualify, since his yearly income is above the median annual income of the United States as a whole.  
D. No, Curtis is not likely to qualify, since his yearly income is below the median annual income of New Hampshire.

Answer 1

He does Qualify b/c his annual income is less than New Hampshire's annual income, so the answer is A.

Answer 2

A.Yes, Curtis is likely to qualify, since his yearly income is below the median annual income of New Hampshire.

Explanation:

A person qualifies for chapter 7 bankruptcy when his income is less that his state's median income.

Here, in the given scenario, we can see that Curtis lives in New Hampshire and makes $52,000 a year. The median annual income in New Hampshire is $63,731

So, he will qualify for chapter 7 bankruptcy.