Disability Insurance?

[christeyanne]

I was talking to our paralegal about monthly expenses and she said one way to reduce or monthly income is to get a quote for “disability insurance” she said it’s very expensive and we can use that quote to reduce our income for forward looking expenses. I asked if we would have to then purchase that insurance and she said no just get a quote, it’s a loophole. This sounds fishy and weird to me, anyone know anything about this. I could see a Trustee getting ticked, no?

[LadyInTheRed]

You sign your petition under penalty of perjury. Your attorney can advise you on what does and does not constitute perjury and what the consequences are. If you are uncomfortable with what the paralegal is telling you, talk to your attorney. Only your attorney can give you legal advice.

[angel7821]

I don't see how that would be considered a monthly expense to claim unless you are actually paying it out. I wouldn't do it.

[ValleYum]

You can plan, in the states that tie insurance premiums to credit scores, for your homeowners, auto, etc.
insurance premiums to increase on Schedule J. Some posters have reported significant increases in premiums. We also lowered our deductibles (which increased our premium) since we likely would not have access to credit due to our BK in case of a car wreck. If you are only paying for state required insurance, add the cost to get something paid to replace your car in the case your vehicle is totaled. This will increase your premium, (legitimately), too.

You can plan for glasses, dental exams, etc. Total cost over period of your hypothetical plan ( 5 years) ÷ 60 months. This helped our medical expense line item increase over the $60/ person on Schedule J as well.

Did you budget enough for home repairs? I planned to replace an appliance and a furnace again using total cost over plan method above - this was along with the regular maintenance items.

I would buy a new(er) car before I would put a *possible* 'problem' insurance amount on my petition.

You can post you numbers here for Schedules I and J here and get some good feedback, too, if you want. I wish you good luck!