More confusion regarding Chapter 13 in Texas

[texasgal]

I went on-line at Nolo Bankruptcy and used their Bankruptcy Means Test Calculator. I have been trying to tackle Form B22C in order to determine if we had enough income to support a payment plan and keep all of our assets. Here is my confusion:

Our income was above the median range for of area, so I was instructed to take the Means Test. When I completed the Means Test, it calculated that our disposable income was a negative $613.00 per month. This was calculated based on the 6 months "look back" income and during a time that my husband was laid off. He has since gotten a job. Also, the exemptions that they allowed for calculation purposes are a lot higher than my actual living expenses.

Does this mean that based on this test, I will not have enough income to support a Chapter 13 plan?

The two attorneys that we have consulted with seem to think that we could support a re-payment plan.

This is making me crazy!!!!!

[MSbklawyer]

Does this mean that based on this test, I will not have enough income to support a Chapter 13 plan?
.
.
.
This is making me crazy!!!!!

Hire a lawyer, girlie! Don't try to do a 13 by yourself.

Here you can find a list of lawyers who do bk in your area: www.nacba.org

[optimistic1]

http://www.ca-bankruptcy-attorneys.com/calculators/expense_calculator.html

Then, take your last two most recent paychecks, add them up and divide by 2, then multiply by how many times you get paid in a year. Then divide that answer by 12 to come up with a monthly figure.

Subtract your expenses from your income, and then tell me how much is leftover each month.

Further, because you are over median, and have negative DMI based on B22C, you may not even be held to an applicable commitment period, but every state will rule differently on this.


The Ninth Circuit Court of Appeals in Maney v. Kagenveama (In re Kagenveama), 527 F.3d 990 (9th Cir. June 2008) held that where an above-median chapter 13 debtor has negative “disposable income” per the means test but a monthly surplus per schedules I and J, the debtor is NOT required to propose a five year plan and the plan payment need not be based on the surplus.

http://www.metnews.com/sos.cgi?0608%2F0617083

[texasgal]

Whew! Thanks, I am climbing down off the ledge!

[optimistic1]

Just listen to the attorneys, what they told you is the truth. If you haven't hired on yet, try contacting your local state bar and ask them if they can refer you to a certified bankruptcy specialist, these are the cream of the crop.

Do that here,

http://www.texasbar.com/Content/NavigationMenu/Additional_Information_For_The_Public/Selecting_a_Lawyer/Lawyer_Referral_Information_Service/Lawyer_Referral_Information_Service.htm