My DMI is $-600...what does this mean in a 13?

[Clabbergirl]

According to a more accurate means test calculation, my DMI is approx $600 in the negative. In a 13, what kind of payment plan can they give you with that?

I have a house and car, but there is no equity in either of them. I don't want the house and can do without the car, although if I could keep it that would be nice. I'd need a different payment plan though. 2nd mortgage on house, HVAC lien through my gas co when the air conditioning went out this summer. I have 2 old cars that are paid for and my kids drive - both fall within the TN exemption (maybe total $2500). Maybe $1K in stocks, again within the exemption.

I took the means test and qualify for Chp 7, but I have joint/co-signed credit cards and a mortgage that were doled out in the marital agreement of my divorce this year. From what I have researched, a 7 will release me from the creditors but not the hold harmless agreement of the decree, and my ex can sue me for contempt for the damages (what they would then owe to our creditors). This is the ONLY reason I am looking at a chp 13, otherwise I would go with the 7. But how do I work out a payment plan when I can't even afford that?

[momofthree]

You simply adjust your expenses to allow a payment. Our means test was negative by well over $1000, we just had to adjust down our living expenses to fund the plan minimum.

[LadyInTheRed]

Couldn't you file a Chap 7, but continue to make payments on the joint debt you were ordered to pay in your divorce? Maybe even reaffirm those debts?

[lrprn]

With your divorce involved, your case is not a simple one. If you haven't already, set up at least 3-4 free initial consultations with experienced bk attorneys in your area. Go in with all your financial figures and a copy of your divorce decree, then sit down and discuss what the best options are for you in your situation. You may be making assumptions that aren't accurate in your state and/or court district.

[Clabbergirl]

I have been adjusting expenses for the past 6 months, hence my being behind in payments and needing to file BK.

[Clabbergirl]

lrprn, I have my 1st appointment with a lawyer today. I don't know how much he knows about family law, but I hope to get some answers or at least new questions.