How are allowed expenses figured?
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Filed Chapter 13 on 3-31-10. 341 completed 5/20/10
$2900+ a month 0% payback to unsecured creditors
Discharged 6/30/2015 -
Go to google and do a search on exemptions for your state .. Or if you do a search for a means test it will give you the IRS standards ...Those who live in glass houses should not throw stones
Chapter 13 filed 10-21-09
Discharged 4-13-15
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First, some expenses on the Means Test are mandated to be a certain amount by the bankruptcy law - see here for an explanation of those mandated standards - http://www.justice.gov/ust/eo/bapcpa...anstesting.htmOriginally posted by frustrated51 View Post
Allowed expenses on the Means Test and Schedules are also influenced by the local trustee, bk judge, and bk court customs and preferences, and prior case law decisions around expenses.
To make it even more confusing, what is allowed for expenses in one location may be challenged in another. You'll need to talk with your lawyer (or 3-4 bk lawyers during your interviews) to find out what to expect in general around expenses in your local court.
Keep in mind that if you can prove reasonable higher-than-normal expenses with solid documentation, it's harder for the trustee to object to accepting the higher amount.
Are there specific expenses you are worried about if you file?I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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What does this mean for me?
I used the chapter 7 means test on NOLO and this is what it came up with:
Monthly disposable income (Line 48 - Line 49) $ -844
How will this work in a Chap 13 filed by only one of us? This includes my income for the last 6 months, but not the few bills that are in my name only. My concern with any of this is my income is falling and the average of the last 6 months is $1377 a month more than it will be after Dec 10th. So that $-844 is actually $-2221. It seems like the means test counted my mortage and car payment twice though and it that is the case the $-2221 would be +499 which would not pay the debts in 60 months. That is barely more than the IRS debt divided by 60.Filed Chapter 13 on 3-31-10. 341 completed 5/20/10
$2900+ a month 0% payback to unsecured creditors
Discharged 6/30/2015Comment
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In all honesty I found in my case the means test to be inaccurate as to what the I & J schedule results were... Maybe give them a try to get a clearer picture.
I believe the means test is only a guide to direct you in the correct chapter filing..Those who live in glass houses should not throw stones
Chapter 13 filed 10-21-09
Discharged 4-13-15Comment
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