Went to file today AND......

[teacher]

I can't......yet.

I am $100 over the median income.........because I did some part time consulting within the past 6 months.

Unfortunately for me, even that going away isn't going to make it easy, because teachers get paid their lump sum money (had it deducted the entire year) AT ONE TIME in the next month. So all that money will add to my income. I'm going to have to wait until at least the end of August or September to be able to file.

I feel like this is just a huge stopping sign.......

[liz417]

Couldn't you find anymore expenses? A $100 isn't much, I'm sure you overlooked something and/or one of your other expenses could be "padded"...

[teacher]

Couldn't you find anymore expenses? A $100 isn't much, I'm sure you overlooked something and/or one of your other expenses could be "padded"...

that was after she did everything she could think of, i dunno

i guess waiting won't hurt me

[liz417]

Okay, well I think you are still safe because you have to have a min of $167 in DMI (sorry, it's around that amount, I can't remember off the top of my head ) in order to fund a ch 13.

[hamburgervol]

how about a term life insurance policy?

[teacher]

Okay, well I think you are still safe because you have to have a min of $167 in DMI (sorry, it's around that amount, I can't remember off the top of my head ) in order to fund a ch 13.

she said i could do a ch 13, but it would make no sense because that would lock me into 300 a month for 5 years, when i can wait until the end of summer and file ch 7

[teacher]

how about a term life insurance policy?

whatcha mean

[liz417]

whatcha mean

Additional life insurance in order to "eat away" at the $100 DMI the OP has

Alright, how about decreasing your auto insurance deductable then when you are discharged, you could lower them again? $100 seems like nothing, I'm sure other posters will come along with their ideas to get rid of that extra $100

[liz417]

she said i could do a ch 13, but it would make no sense because that would lock me into 300 a month for 5 years, when i can wait until the end of summer and file ch 7

I don't know why you would be "locked in" to a $300 payment if you do a ch 13, especially since you only have $100 DMI....hmmm

Can you wait till the summer to file ch 7?

[hamburgervol]

whatcha mean

.....an added expenses that is allowed. Approx $60 per month. If you are trying to find added expenses.

[teacher]

Ohhhhh, that sounds interesting. I guess her main thing was that if I wait until the end of summer, we won't need to find any "things" to use money, because the additional income that I had (i.e i haven't worked for them for 3 months) will fall off, and my "summer teacher money" would even out because I won't be getting paid after that at all until the end of august

i thought car insurance was a set rate, not something you could use actual cost?

[liz417]

Ohhhhh, that sounds interesting. I guess her main thing was that if I wait until the end of summer, we won't need to find any "things" to use money, because the additional income that I had (i.e i haven't worked for them for 3 months) will fall off, and my "summer teacher money" would even out because I won't be getting paid after that at all until the end of august

i thought car insurance was a set rate, not something you could use actual cost?

Yes, but with a lower deductable, it increases your premium

The question is, DO YOU WANT TO WAIT TO FILE? I'm sure we could all come up with suggestions on how to get rid of that $100 DMI...

[Culacadidang]

I may not be understanding fully teacher's situation but you can file and still be 'no presumption'. Did you already fill out the means test? because this will tell you right away whether to file 7 or 13.

[teacher]

Yes, but with a lower deductable, it increases your premium

The question is, DO YOU WANT TO WAIT TO FILE? I'm sure we could all come up with suggestions on how to get rid of that $100 DMI...

I don't WANT to wait to file, but from the way she made it sound, there isn't a disadvantage for me to wait to file. The creditors aren't currently harassing me because I have directed them to the attorney's office. The reason for the filing is an old car accident judgement and unsecured debt.

Wouldn't adding something (like changing car deductible, adding life insurance, etc.) still only count for current month and not the past 6 months?

[teacher]

I may not be understanding fully teacher's situation but you can file and still be 'no presumption'. Did you already fill out the means test? because this will tell you right away whether to file 7 or 13.

I think she was doing the means test when she told me all of this.

The past 6 months included income from a 2nd consulting job that I don't have anymore.