Means test accuracy?

[owoody]

How accurate is the online mean test to the one your attorney does.We are seeing our attorney tomorrow and paying 250.00 for it.So far I don`t like the online one that says we have to pay alot and hoping the attorneys will be better...
I also want to know if the Trustee goes by your lawyers plan or gets your financial info ahead of time and comes up with a different plan as he sees fit?

[Lissy]

I'm not sure what online means test you are referring to, so I can't answer that. The trustee does not come up with plans. You and your atty do that and the trustee reviews it to determine if he thinks it's feasible. He will use your financial info (i.e., pay stubs, bank statements, etc.) to make that determination. He may file objections, but that's pretty standard. You should expect that. But if you and your atty come up with a reasonable plan, it shouldn't change too much, if at all.

[LadyInTheRed]

There are certain things on the means test that are a little tricky, so you may not be completing it correctly. My attorney came up with a much higher DMI then I did. Not a big deal for me because we both came out negative, but my calculation came out more negative than his.

[owoody]

Wow...Thats was quick on the answers.Thats awesome.Thanks a bunch....

I was referring to the standard online means test to see what chapter you qualify for.We are Way over the limit and will be planning a13.
Its telling me we have $1400.00 left over after paying our bills and stuff.IWish!!!!!!!!!!!!!!! Does that mean thats what we have to pay to unsecured?

[owoody]

We made 90,000.00 and will make app 80,000.00 this year.............Im self emloyed,so that really gets complicated.I have a fixed monthly income,but my expenses vary each month.......................

[newbie2]

Wow...Thats was quick on the answers.Thats awesome.Thanks a bunch....

I was referring to the standard online means test to see what chapter you qualify for.We are Way over the limit and will be planning a13.
Its telling me we have $1400.00 left over after paying our bills and stuff.IWish!!!!!!!!!!!!!!! Does that mean thats what we have to pay to unsecured?

I would sit down with pencil and paper and your checkbook and make notes on ALL of your expenses for the last year. (Use your checkbook, bank statements, credit card statements as a reference.)

Also, your payback isn't only calculated on your income versus expenses. Your assets (those you want to keep) if any are also part of the equation.

This is where a good attorney comes in. Good luck!