Filing Ch13 soon

[JellyBeany]

My husband lost his job in July. Now that a few months have passed, we will be below median at the end of this month. However, a new job for him just landed in his lap. It's his dream job, perfect for his skill set, decent pay, short commute, etc. He has signed the offer letter but does not actually start work until next month. We have consulted 2 different attorneys and both say the same thing -- even though we are below median for the 6-month lookback period, we are not eligible to file Ch7 due to his new job.

Naturally I am disappointed by this. Lots of BK-related websites including those specific to my state say very clearly that if your 6-month income in below median that you automatically qualify for Ch7, but apparently this is not true.

Anyway, moving forward we were told by the attorney to wait until he has received his first full paycheck to file for Ch13.

I'm making myself a little crazy trying to make heads or tails of the official BK filing forms trying to figure out how much our Ch13 payment will be.

[Scottowl]

I’m in the same boat regarding my plan payment. It has caused me some anxiety.
First my attorney calculated my annual income, based on the last 6 months pay stubs.
That figure, minus monthly expenses, is the proposed plan payment.
This is where Im at presently.
min one short week my 341 hearing will be on record, and I presume the trustee will commence to begin ripping it to shreds

[justbroke]

Anyway, moving forward we were told by the attorney to wait until he has received his first full paycheck to file for Ch13.

I'm making myself a little crazy trying to make heads or tails of the official BK filing forms trying to figure out how much our Ch13 payment will be.

The attorneys are correct that your change in circumstances could affect a Chapter 7 filing.

I wouldn't get to worried about the payment yet because there's a lot of math that goes into the Means Test and the calculations. Trying to calculate anything using the forms will drive you crazy. But if you must test some numbers, try using the Free Means Test Calculator at Legal Consumer. It still won't be 100% accurate but could give you a clue.

Each Chapter 13 case is unique and there really is no way to find the number until an attorney looks at every aspect of your income, taxes, tax refunds, household size, and many other factors.