Current monthly income – this is a mathematical calculation based on all of the income of the Debtor in the 6 months before the bankruptcy is filed. The calculation does not count the month the bankruptcy is filed. Certain types of income are excluded, such as social security benefits. This current monthly income is averaged to determine whether or not a Debtor is an over median Debtor for purposes of the means test in a Chapter 7, and in a Chapter 13, to determine the minimum length of the Chapter 13 plan and the minimum amount that must be paid to unsecured creditors.
