WOW so happy to have found this board. I’m hoping someone can help with a means test questions. As a side note we’ve met with two different bankruptcy attorneys recently. However, neither will run our numbers in the long form means FORM 22A-2 as our median income is over $67,539.00 (FL Median for a family of four).
Our income for the last 6 months is:
Husband 13,406.61
Wife 23, 044.43
Total: 36,451.04
Annual income based on the figure above: 72,902.08
Business expenses – 90.00 per month (cell and internet). Husband works from as a contract employee.
Over Median income by 5,363.08
However we have the following expenses for healthcare that come directly from check and have for years.
This break down is monthly
Dental 26.00
Flex Medical 84.00
Health Ins 715.82
St. Disab. 16.00
Life ins 38.00
401k 200.00
We have the following secured debt we plan on keeping.
Mtg balance 104,000.00, payment 690.00
Car 1 balance 8,138.95, actual payment 330.01
Car 2 balance 14,200.00, actual payment 442.00
Attorney one seemed pretty confident we could do a chapter 7, but he could not file as it was a conflict of interest with one of the creditors. Attorney two seemed to think we’d be pushed into a 13.
I’ve ran the numbers in the Means test long form and used only the amounts allowed by the IRS, taxes, pay deductions and the secured debt mentioned above (balance of the debt over 60) and I come out that we’re about -1,100 a month. That would clearly makes eligible for a 7 and should do so without any red flags.
The second attorney will not do the means test until the retainer is paid in full and is non-refundable. He said we can use it towards a 13...I'm just not sure if he's pushing more a 13 than a 7..
We not do plan on filing till November and my husband’s income a little and should be below 72,000.00 a year…
Anyone with experience care to share your thoughts and it you’d think we would qualify?
Our income for the last 6 months is:
Husband 13,406.61
Wife 23, 044.43
Total: 36,451.04
Annual income based on the figure above: 72,902.08
Business expenses – 90.00 per month (cell and internet). Husband works from as a contract employee.
Over Median income by 5,363.08
However we have the following expenses for healthcare that come directly from check and have for years.
This break down is monthly
Dental 26.00
Flex Medical 84.00
Health Ins 715.82
St. Disab. 16.00
Life ins 38.00
401k 200.00
We have the following secured debt we plan on keeping.
Mtg balance 104,000.00, payment 690.00
Car 1 balance 8,138.95, actual payment 330.01
Car 2 balance 14,200.00, actual payment 442.00
Attorney one seemed pretty confident we could do a chapter 7, but he could not file as it was a conflict of interest with one of the creditors. Attorney two seemed to think we’d be pushed into a 13.
I’ve ran the numbers in the Means test long form and used only the amounts allowed by the IRS, taxes, pay deductions and the secured debt mentioned above (balance of the debt over 60) and I come out that we’re about -1,100 a month. That would clearly makes eligible for a 7 and should do so without any red flags.
The second attorney will not do the means test until the retainer is paid in full and is non-refundable. He said we can use it towards a 13...I'm just not sure if he's pushing more a 13 than a 7..
We not do plan on filing till November and my husband’s income a little and should be below 72,000.00 a year…
Anyone with experience care to share your thoughts and it you’d think we would qualify?
Bankruptcy Wizard
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