change in circumstance

[nazstar]

We are waiting 6 months to file for chapter 7. I will be quitting my job and in 6 months, we will qualify, income wise. IF we are forced to file earlier because of a judgement against us, is there a way to still keep it a Chapter 7 since the situation won't change? Or will they force us into a 13 and make us convert to a 7 even though our schedules I and J will be negative? The only reason for waiting at this point is for our income to drop off. As of March 1, we are a one income family earning about $8000 below the median. But in the 6 month lookback, we will be way above that.

It just seems like filing for a 13 and then converting is going to drag out the process and cost WAY more than just filing for 7.

[kl030505]

have you spoken to an attorney? Because as far as I know as long as you pass the means test, even if you fall above the median you should still be ok.

Thought, I admit that I don't know if quitting a job just before filing might look like abuse/fraud to them. I don't know enough about that. My suggestion is to contact an attorney.

[nazstar]

have you spoken to an attorney? Because as far as I know as long as you pass the means test, even if you fall above the median you should still be ok.

Thought, I admit that I don't know if quitting a job just before filing might look like abuse/fraud to them. I don't know enough about that. My suggestion is to contact an attorney.

Yes, I did meet with an attorney a few months back but he said to come back when the situation was clearer (I hadn't decided 100% to quit at that point). I have to touch base with him again.

I'm not quitting for the hell of it though. I am 5 months pregnant and have an 8 month old infant. We have no family within 1500 miles of us, daycare for 2 infants is outrageous! The cheapest I could find (that I was remotely comfortable with) was $2500 a month! That's a huge chunk of my husband's take home pay each month. Right now, we are using flex time between the 2 of us but that is just available for another 2 months - hence my need to quit. If my children were older, I would be more flexible but a 13 month old and a newborn...in daycare for 10 hours a day...when we COULD swing it on one salary.... It was an easy choice for me. When things seem really bad, I remind myself that most people don't have that choice and I feel a bit more blessed!

[kl030505]

Yes, I did meet with an attorney a few months back but he said to come back when the situation was clearer (I hadn't decided 100% to quit at that point). I have to touch base with him again.

I'm not quitting for the hell of it though. I am 5 months pregnant and have an 8 month old infant. We have no family within 1500 miles of us, daycare for 2 infants is outrageous! The cheapest I could find (that I was remotely comfortable with) was $2500 a month! That's a huge chunk of my husband's take home pay each month. Right now, we are using flex time between the 2 of us but that is just available for another 2 months - hence my need to quit. If my children were older, I would be more flexible but a 13 month old and a newborn...in daycare for 10 hours a day...when we COULD swing it on one salary.... It was an easy choice for me. When things seem really bad, I remind myself that most people don't have that choice and I feel a bit more blessed!

trust me I hear you on the cost of daycare. I only have one and it tears me up making me wish I could afford to SAH. I wasn't trying to imply anything, but your initial post made it sound like you were quitting just so you could fall below the means test.

I think you should contact an attorney.

[nazstar]

No offense taken. I would prefer to be at home with my children. I have a job that I hate, but pays really well. keeping the job means a chapter 13 to pay the trustee for 5 years while someone else raises my kids. When I looked at what we would have at the end of every month, chapter 7 worked out BETTER for us.

[dp1969]

No offense taken. I would prefer to be at home with my children. I have a job that I hate, but pays really well. keeping the job means a chapter 13 to pay the trustee for 5 years while someone else raises my kids. When I looked at what we would have at the end of every month, chapter 7 worked out BETTER for us.

I agree with your situation nazstar. I too, made a decision to be a SAHM and we still wound up filing Ch. 7. Never could have made it anyways (5yr & 3yr at home). Childcare is TOTALLY outrageous and that would have done us in, right there. In the end, your kids are young (mine too) and this wont effect there lives at all. Just means more "quality time" for all.

[MomIcantFindmy]

My attorney told us that if our income drops we may not even qualify for a 13 regardless of what the means test says. The means test is just the beginning. Talk to your attorney. You may be able to file earlier.