Ch13 means test/Disposable income calc?

[t160out]

Hi All,

I went through the ch13 means test and disp income forms and I I found that with the disposable figure I came up with at a 5yr payout, the creditors would get about 30-40% MORE than what is currently owed. does that make sense?

I went over the numbers at least twice, what gives? anyone run into this?

[krielly]

If your disposable income will pay off your creditors 100% in a shorter time period, your 13 will not last the full 5 years.

[justbroke]

Exactly as stated above. If your disposable monthly income (DMI) is such that it will pay back creditors in less than 5 years (60 months), then it will be the actual duration!

You're essentially in a 100% Plan.

[woeisme]

It sounds like if you have that much disposable income that you can pay everything off in 3 years, maybe you might not need to file BK. Are you sure you are putting in all your expenses?

[justbroke]

It sounds like if you have that much disposable income that you can pay everything off in 3 years, maybe you might not need to file BK. Are you sure you are putting in all your expenses?

I'd like to add to this.

t160out, are you trying to protect some asset like a home, or keep a car?

Otherwise, there's probably a better plan than filing Bankruptcy, just to pay back your creditors 100% in 3 years.

[t160out]

House is ok at the moment. we're barely braking even (borrowing from peter to pay paul) and falling behind on some CCs. I make really good money, but spouse does not, and has run up the debt on her side.

it looks like I would be in the 40-45 month range with the numbers I figured in the means test. I'm seriously considering debt settlement for the spouses' side of the house and take my chances. problem is I have a good amount of debt on top of the house and 2nd mort, so we'd be just scraping by. I feel like either way I'm going to have to live WAY tight for the forseeable future.

thoughts everyone?