Help with Form 22C and ?

[skipteach]

Have spent a good deal of time on this site looking for answers Very helpful, but some I can't find. We are SC and are above the median. Trying to do without attorney to save $.
Form 22C:
1. Our monthly mortgage payment is above the local standard. What amount do I put down on 25B? Std. is 738 our bill 1164. (says not to enter amt. <0)
2. On 28 is ownership expense only if you have a car payment? We have 2 cars that are paid for, but both have a 83 mile commute each day. for 27A we get 488. Not sure if we should be putting down std. for ownership expense also?
3. when we fill out schedule J have about $100 left over. When do 22C have a negative balance. Does that mean we can't do a Chpt. 13?
4. How do you include payments for trustee (didn't know they get paid)?
Our major debt is behind on mortgage, plus now foreclosure/attorney costs to mortgage company. If that is not paid back in full by end of plan does that get discharged?
I really appreciate this site and all the good advice/comments/anwers. This is rough stuff!
Thanks in advance for any and all help.

[jeep75]

1. Your actual mortgage payment.
2. 28 & 29 are the car payments.
3. No, it generally means that $100 would go to pay your unsecured creditors. 22C having a negative balance means you could file a Chapter 7 if you wanted.
4. The trustee takes his payment out of your monthly chapter 13 payment.

[skipteach]

Thank you!!! So, is #47 something different? (not mortgage payment?)

[jeep75]

47 would be for things like Propery Tax if you didn't have escrow on your mortgage.

I was mistaken a little bit on line #25 also:
Line 25B, taken in conjunction with Line 47 allows debtors the greater of the Local Standard or their actual mortgage expense. If the debtor’s mortgage expense is greater than the Local Standard the entry on Line 25B will be zero, they will deduct the entire monthly mortgage amount on line 47. If the debtor’s mortgage expense is less than the standard, the debtor deducts the full mortgage expense on line 47 and the difference between the standard and the mortgage expense on line 25B. If the debtor is a renter there is no entry in 25B(b) and the IRS Standard from line 25B(a) is entered on line 25B(c).

Here is a line by line of what they are looking for:

http://www.lisle13.com.cnchost.com/Means_test_line_by_line.pdf

[skipteach]

Thanks so much. I didn't see any instructions for it on the site where I got the forms. OK. So, I show $104.40 left over on Schedule J and Form 22C shows $443.42 left over. Which number will they use for our payment? Also, we have some money saved now. Will they apply that toward payments? If so, I'm thinking we should remove it from the bank to have for emergencies. Thanks so much for your help!!

[skipteach]

Another thing....I didn't put anything down for charitable contributions (can't really understand why they would allow that) but I'm thinking we should put what's allowed down there?

[jeep75]

Charitable contributions.. only if you can show you've been making them regularly.

About the other stuff, if you are over median you will be in a ch 13 plan for 5 years, you will need reliable transportation. The cars you have that are paid for will be considered assets and could eat up all of your exemptions, if they are not relatively new the advice around here is to replace them with new models if possible with payments under $496 each. That might take of the DMI on both schedules.

Regarding the cash, it all depends on what you are allowed to exempt in your state and how much there is.

[skipteach]

Wow, hadn't even considered cars. How do you know what the exemptions are in a state? Thanks again.

[jeep75]

http://www.legalconsumer.com/bankruptcy/bankruptcy-law.php?ST=SC

You can also choose to use the Federal exemptions instead in your state.

Both are listed in the link above.

[jeep75]

I just noticed:


Real property, including co-op, to $53,375 (joint owners may double)

Cash & other liquid assets to $5,350, in lieu of burial or homestead exemption
S.C. Code Ann. § 15-41-30 (A)(5)

Motor vehicle to $5,350
S.C. Code Ann. § 15-41-30 (A)(2)


That is a lot of exemptions right there.

[skipteach]

Thank you!! I didn't even know about that website.

[momofthree]

Our major debt is behind on mortgage, plus now foreclosure/attorney costs to mortgage company. If that is not paid back in full by end of plan does that get discharged?

Any arrears you have must be paid off within the plan. If your schedules don't show enough DMI to fund the arrears + fees, then you will have to adjust your living expenses on your schedules to allow a large enough payment to pay off the arrears + fees + any other minimum that may apply (IRS, attorney, non-exempt assets, etc.).

As a pp mentioned, you will struggle to get thru your 5-year plan with older cars. It would be best to buy at least 1 new vehicle prior to filing, especially since you commute. Not sure if you have the means to buy a new vehicle though based on the numbers you posted.

Think long and hard about keeping this home. Why did you fall behind on payments? Has something changed that makes you think you can now afford the payments AND the arrears?

[momofthree]

Also, I strongly STRONGLY suggest you hire an attorney.

[LadyInTheRed]

Thanks so much. I didn't see any instructions for it on the site where I got the forms. OK. So, I show $104.40 left over on Schedule J and Form 22C shows $443.42 left over. Which number will they use for our payment? Also, we have some money saved now. Will they apply that toward payments? If so, I'm thinking we should remove it from the bank to have for emergencies. Thanks so much for your help!!

If you remove it from the bank, you still have to report the cash as an asset. To leave it off is fraud. But, in a chapter 13, the trustee won't take it any way. If you can't exempt it, then you just have to pay at least that amount to your unsecured creditors during the life of your plan.

[skipteach]

Wow, O.K. really not sure we could afford one or two car payments, though I know that would help the numbers for DI. Have to crunch them again. Don't know why my Schedule I is so different from Form 22C. SC has low standards and I know we pay more for some of the stuff. Pretty sure we make too much for a Chpt. 7. I changed careers that made me bring in a lot less money and we had some medical bills from husband with meningioma. If we don't file Chpt. 13 though, they will foreclose on the house and we'll owe the difference from what they get to what is owed. So we'll be paying on a house we don't even live in plus have to find somewhere else to live. We should be hearing about a sale date any time soon as it is. Don't know how we would get car loans with a house in foreclosure either.