take a look at my numbers

[deadbroke99]

I filed Ch 7 on 5/28/09. 341 is July 15th. My means test shows $114 in disposable income. I am over median. Do you think I will have problems?

State of SC

Current Monthly Income $6886.38
Secured Debt payments $1714.92

[banca rotta]

I filed Ch 7 on 5/28/09. 341 is July 15th. My means test shows $114 in disposable income. I am over median. Do you think I will have problems?

State of SC

Current Monthly Income $6886.38
Secured Debt payments $1714.92

It looks like you might but since most of us here are only guessing it might be a good idea to search PACER (reasonably, without breaking what's left of the budget) and see debtors in your area and what your local courts allow.

You're always better off negative for BK purposes anyway. You can probably absorb the 114 with better insurance and show consistancy for several months. I wouldn't get a new expense and file a week later.

Actually I noticed you filed already. I guess wait and see.

[deadbroke99]

It looks like you might but since most of us here are only guessing it might be a good idea to search PACER (reasonably, without breaking what's left of the budget) and see debtors in your area and what your local courts allow.

You're always better off negative for BK purposes anyway. You can probably absorb the 114 with better insurance and show consistancy for several months. I wouldn't get a new expense and file a week later.

Actually I noticed you filed already. I guess wait and see.

I thought as long as you were under $150 in disosable income you would be ok? My lawyer didn't count that when my 16 year old daughter gets added to our insurance this summer that it will go up $100.00 a month.

[aces67]

When we initially filed we only had $100 a month in disposable income but we were 3 years into a 5 year vehicle loan so the trustee not only took our $100 a month and added it toward a Ch 13 but he also scheduled to have the payments stepped up to $600 a month once the truck was paid for.

Needless to say now dh's income has taken a huge hit and we can't even afford the truck but that's my 2 cents. You may have a little trouble.

[justbroke]

I thought as long as you were under $150 in disosable income you would be ok?

Not so cut and dry. There's a presumption of abuse and the only rebuttal is

by demonstrating special circumstances, such as a serious medical condition or a call or order to active duty in the Armed Forces, to the extent such special circumstances that justify additional expenses or adjustments of current monthly income for which there is no reasonable alternative.

11 USC 707(b)

My lawyer didn't count that when my 16 year old daughter gets added to our insurance this summer that it will go up $100.00 a month.

Well, that's speculative, right? You aren't sure what it will be? I would talk to your lawyer some more about the presumption of abuse (I'm sure that box is checked on your Means Test) and the likelihood of getting a dismissal on 707(b) from the Trustee. The Trustee has until 10 days after you meeting of creditors to raise the presumption of abuse, and then 30 days from that to file a motion to dismiss or convert.

I'm thinking now, that your lawyer is hoping that by the time you have your 341, and 10 days have elapsed (for Trustee to raise the presumption of abuse), and then the next 30 days to actually have the Trustee file a motion for dismissal, your circumstances would have changed. I'm thinking (yeah a bad thing for a non-lawyer) that would put you into late August easily. Your change in expenses (insurance increase), may just do it!

I wish you luck!

[deadbroke99]

Actually the box is not checked. It says meansno on Pacer as well.
I called my insurance and they gave me an estimate.

[deadbroke99]

[banca rotta]

I thought as long as you were under $150 in disosable income you would be ok? My lawyer didn't count that when my 16 year old daughter gets added to our insurance this summer that it will go up $100.00 a month.

It used to be $100 and now it looks as though it's just under $110 (after dividing 6575 by 60 months).

***Please correct me if I'm incorrect and read older forms.

Your daughter's insurance is the future and bk is a snapshot of the months prior to filing.

If I am correct your attorney should have either checked the presumption arises or requested that you "legally pad your expenses"

[justbroke]

Actually the box is not checked. It says meansno on Pacer as well.

Okay, there's a clue.
I'm thinking now that you were over $110 but under $166 so you filled out the last part of your B22A, which allowed you to not check that flag.

So long as MEANSNO stays there, I think you're okay now. I was thinking that you had the presumption of abuse checked on your B22A. I should have asked that question first.

[Amy26]

What does MeansNo mean? Also...I keep seeing people use the acronyms DH, DW...what does that mean?

[deadbroke99]

Okay, there's a clue.
I'm thinking now that you were over $110 but under $166 so you filled out the last part of your B22A, which allowed you to not check that flag.

So long as MEANSNO stays there, I think you're okay now. I was thinking that you had the presumption of abuse checked on your B22A. I should have asked that question first.

Correct! Thanks, I was starting to get scared!

[justbroke]

What does MeansNo mean?

Means you don't have the "means" to fund a Chapter 13.

Also...I keep seeing people use the acronyms DH, DW...what does that mean?

DH = Dumb Husband (Dear Husband)
DW = Dear Wife
DD = Dear Daughter

... and so on ...

[banca rotta]

If you make it (and hopefully you do) to at least a month or so after the 341 with "meansno" flagged then you should be ok.

The US Trustee will double check everything usually a week to 10 days after the 341 and if they see disposable income they will change it to "meansu" (undetermined) that they need to see additional information, documents, etc.

If it says "meansyes" after that then that's not good. It simply means that they feel you have the means to convert to a chapter 13 and a judge will then decide.

[deadbroke99]

I have a friend who had $120 in disposable income and was fine so are you sure they give you problems if you show any disposable income?

[banca rotta]

I have a friend who had $120 in disposable income and was fine so are you sure they give you problems if you show any disposable income?

I'm not sure. I just know negative looks better then positive.

What about your schedule I & J actual expenses? Were you positive there too?

Your situation is borderline. It can go either way as opposed to someone under the median with negative numbers. All I can say is you will know a few weeks after the 341.

Good luck! Hope it goes ok.