I have a question please.
If the DMI is let's say $ 150/month, but your unsecured bills are over $ 45K - can you still file for Chapter 7?
Iv'e been reading conflicting stories on this. Some write, that as soon as you are over the $ 100, you will have to file Chap 13. But some others say different - also on the means Test it shows that if your DMI x 60 months is less then 25% of your debt, you can do a Chap 7?
Example:
unsecured Debt $45000.00 - 25% of that is $ 11250.00
$ 150/month x 60 = $9000.00
any input would be greatly apreciated.
If the DMI is let's say $ 150/month, but your unsecured bills are over $ 45K - can you still file for Chapter 7?
Iv'e been reading conflicting stories on this. Some write, that as soon as you are over the $ 100, you will have to file Chap 13. But some others say different - also on the means Test it shows that if your DMI x 60 months is less then 25% of your debt, you can do a Chap 7?
Example:
unsecured Debt $45000.00 - 25% of that is $ 11250.00
$ 150/month x 60 = $9000.00
any input would be greatly apreciated.
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