Ok, question, my sister is contemplating a CH7, on her own, her credit is shot, she has no job (lost it about ayear ago), no UE benefits, nothing. She owes over 80k. She is married, her husband is the sole proprietor of a used car dealership. She has ZERO interest in the business, is not an employee, etc. She has no ownership either. But she has to list "household" income for the means test...problem is...there is no income. Last year when they filed taxes jointly, their AGI was -77,000, yes negative 77grand. On the schedule C "profit and loss from business" which clearly lists her husband as the Sole Prop...and his SSN only, it shows gross receipts of 353k, and expenses, costs, etc as 410k, it shows a loss of -102k.
She had 24k of income in 2008, thats it, thats all that she really made.
How does this affect means testing? She obviously is under means...but I am thinking that the losing business of her husband (he is keeping it) may affect her ch7 case...what do you think?
She has no money for an attorney, and in MD they won't offer many free consults...
Since the business had a net loss, there was no "income" from the business, correct? And it doesnt need to be included on the means test..correct?
She had 24k of income in 2008, thats it, thats all that she really made.
How does this affect means testing? She obviously is under means...but I am thinking that the losing business of her husband (he is keeping it) may affect her ch7 case...what do you think?
She has no money for an attorney, and in MD they won't offer many free consults...
Since the business had a net loss, there was no "income" from the business, correct? And it doesnt need to be included on the means test..correct?
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