Median Income Levels Drop

The revised median income levels, which come out about twice a year, have been posted. Effective November 1, 2010, all levels in Wisconsin for households of one to three have decreased by about $2k and households of four or more have decreased by about $4k.
March 15, 2010 (current)
$42,205
$57,201
$67,881
$80,243
November 1, 2010 (revised)
1: $40,486
2: $55,175
3: $65,187
4: $76,188

Ransom v MBNA

This week kicked off the U.S. Supreme Court’s 2010-2011 term. And what an honor! The very first case up for oral arguments was Ransom v. MBNA, the case I mentioned earlier this summer.  We’ll be keeping an eye out for when the court renders its decision. We will learn whether the ruling will apply to Chapter 7s, Chapter 13s, or both. We will also learn whether the ruling applies to vehicles without a lien, vehicles with a lien that are being discharged, or both.