• The Form B-22C Statement of Current Monthly Income and Calculation of Commitment Period and Disposable Income is a standardized form associated with a bankruptcy filing to facilitate the calculation regarding whether a debtor is an above-median income individual. In essence, the form is used to create a comparison of the debtor’s income over the prior six months before bankruptcy against the state’s, in which the filer resides, median income. The prior six months is known as the “Current Monthly Income” or CMI; if the debtor is found to have an above-median income, than the Bankruptcy code will provide a calculation, known as the “Means Test” to determine if the debtor has enough valuable income to be forced into a Chapter 13 Bankruptcy filing.

What does the Form B-22C Statement of Current Monthly Income and Calculation of Commitment Period and Disposable Income Consist of?
• To facilitate the calculation, the court will use the Form B-22C Statement of Current Monthly Income and Calculation of Commitment Period and Disposable Income. The form, which consists of six pages, requires the filer to first report their income. This section of the form will ask various questions concerning your income, including information regarding your gross receipts, business income, gross wages, salary, tips, bonuses, rent/property income, interest, pension income, unemployment compensation, income derived from investment and all other sources of income. Following the satisfaction of this information, the form will provide a means for calculation, similar to that of a basic tax return. Once your income has been calculated you will proceed to Part 3 of the form, which will ask questions to determine your disposable income.

• Part 3 of the form is fairly short, however, the subsequent section, the calculation of deductions allowed under bankruptcy code, represents the bulk of the form. All questions regarding deductions, allow the filer to reduce their income; this portion of the form is crucial when calculating your final, net disposable income found at the bottom of the page. Once your net income has been calculated following the obtainment of all allowable deductions, the coordinating bankruptcy court or judge will evaluate whether or not you qualify for a chapter 13 filing given your particular state’s median income level.