Schedule J

[santadawg]

Hi everyone--I was wondering if I could get some feedback on my Schedule J expenses. We are a family of 5 living in MA.
Kids-20,18,14
Monthly Take-home: $6307

Mortgages: $1743
Electric & gas: 350
Water & sewer: $45
Telephone: $43
Cell: $143
Cable: 84
Internet: 42
Food: 1400
Home maintenance: 150
Clothes: 150
Laundry: 50
Medical Dental expenses:110
Transportation-Gas & Car Maint:445
Recreation/Entertainment: 125
Charitable:40
Excise Tax: 25
Life Insurance:158
Dental-son's:36
2 Car payments combined: 675
haircuts: 50
Bank Charges:5
Personal Care:75
Gifts & Pet food/supplies: 50
Eye Care:75
Student Loan:235

Car Insurance is deducted from paycheck

Lawyer said it had to match our take home pay exactly---we kept adding & subtracting till we got to zero. Lawyer never said if it was ok or not.

Thanks for your help---Santa

[B65]

Hi There

we are a family of 5 in a nearby state to you, with a similar take home... our schedule J shows a -750 i think yours looks great and getting it to 0 is good. do your older children live with you and do they work? mine are full time students, was there ever a question they could be included in your household?
Thanks and good luck B

[santadawg]

Hi B65, all three are in school, 1 is away at college, 1 is home in college, Both work part time. Lawyer stated as long as there at home half the time, they count towards your household. Our younger one is in High school.

[B65]

Thanks for the answer

you have the same as me, One is at home at full time school, the other is in the next state but comes home weekends and term time. no jobs for either though...
so hopefully we will be ok, I also have a much younger child too...
when is your 341?

B

[santadawg]

finishing paperwork now, filing end of the month

[santadawg]

anyone else ----please

[santadawg]

anyone else----please

[Mi Bankruptcy]

That looks pretty good. I submitted ours with about -570. We are also a family of 5

[momof3b1g]

That looks pretty good. I submitted ours with about -570. We are also a family of 5

is it ok to actually be negative? I thought they would question your expenses if you are negative.
We were trying to do ours and it came back negative and the lawyer said to refigure our budget and needed to think about lowering some things like internet/satellite. They said something about not wanting it to look like a hardship case

[relief13035]

We were negative $900 and everything went through just fine.

[TEW]

I was + 40 and got discharged

[okiemom2008]

If you quit paying on your house, credit cards and car before bankruptcy do you count that on Schedule J? Or do they not count since you are not paying it at the time?

[Mi Bankruptcy]

is it ok to actually be negative? I thought they would question your expenses if you are negative.
We were trying to do ours and it came back negative and the lawyer said to refigure our budget and needed to think about lowering some things like internet/satellite. They said something about not wanting it to look like a hardship case

Our Lawyer just said be prepared to explain how we will deal with the negative account. I fought hard to exempt our 2008 tax return( receive in 2009). If the trustee accepts our exemption I will be able to tell her that we intend to pay off both of our vehicles and stop full coverage insurance on one or both. This will bring us to 0. The attorney was very pleased with our answer and said he loves clients that do their homework. My 341 is not until Jan..