Current Monthly Income

Business, Legal & Accounting Glossary

Definition: Current Monthly Income




Full Definition of Current Monthly Income


As defined by the new bankruptcy law, a bankruptcy filer’s total gross income (whether taxable or not), averaged over the six-month period immediately preceding the bankruptcy filing. The debtor’s current monthly income is used to determine whether the debtor can file for Chapter 7 bankruptcy, among other things.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/current-monthly-income/
Modern Language Association (MLA):
Current Monthly Income. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 28, 2021 https://payrollheaven.com/define/current-monthly-income/.
Chicago Manual of Style (CMS):
Current Monthly Income. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/current-monthly-income/ (accessed: September 28, 2021).
American Psychological Association (APA):
Current Monthly Income. PayrollHeaven.com. Retrieved September 28, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/current-monthly-income/

Definition Sources


Definitions for Current Monthly Income are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 1 Views.