Means Test Wizard (Help with updates)

[DebtStinks]

Didn't want to hijack that other thread. But some questions and concerns where raised regarding the means test wizard I wrote:

http://www.johnfire.com/meanstest/wizard.php

It was stated that my wizard was missing the option to enter property taxes and property insurance. I originally just left these out as I assumed most people just have these lumped into their first mortgage payment.

But I just edited the wizard and broke out the debt secured by your home into (1st, 2nd, 3rd, HELOC, Tax, and Ins). This should make more sense for people I hope.

I've recently filed so my use of the means test is pretty much done. But I'd by happy to make any updates to it that will make it easier for use. If you want to give a try and offer feedback I'll make whatever changes are necessary.

DebtStinks

[justbroke]

Nice!

[LuciluS]

DebtStinks:

I just wanted to say Thank You for all the hard work you put into your Means Test. I noticed you posted it as a Stickie under General Bankruptcy Talks - Thanks as I had saved it in my Favorites.

I've suggested it to several people during my posts on this forum. Hope your BK flows smoothly. DH and I will be filing 9/09.

Again, many thanks.

Luci

[DebtStinks]

Thanks guys... I know when I was first getting into this stuff the means test was one of the harder things to figure out. I was able to get a ton of help from the great folks that frequent these forums. I'd just like to give something back and offer a simple means test wizard for the users of this forum.

Any feedback to help make it better would be great!

DebtThinks

[2manybills]

Means Test and Property Taxes

Thanks so much for the Means Test. I have a question though - if your mortgage payment does not include property taxes, can you still include them as part of the means test? Technically, we are still responsible to pay that average monthly amount of $534.00 per month but it's just not impounded.

We are okay either way, but I am curious about that. Thanks.

[LuciluS]

Thanks so much for the Means Test. I have a question though - if your mortgage payment does not include property taxes, can you still include them as part of the means test? Technically, we are still responsible to pay that average monthly amount of $534.00 per month but it's just not impounded.

We are okay either way, but I am curious about that. Thanks.

Yes, Property Taxes are an expense item if not included in your mortgage payment. Depending on your State Property Tax Law it would be divided by the number of months included on your bill.

In Arkansas, you pay real estate tax billed yearly on your land/home which is usually included in your mortgage, but not always. Then, we are assessed property taxes based on make, model, and year for vehicles. This tax is due on Oct. 10th of each year. Since our property tax is billed annually, the amount would be divided by 12 to get your monthly property tax. Our yearly vehicle license ranges from $25.20 - $50.00 based on the weight of the vehicle.

When we lived in Indiana. Real Estate Tax was billed every 6 months. The property tax on the vehicle was included as an 'Excise Tax' and paid yearly at time of yrly vehicle registration. Waza...all taxes were much higher when we lived in Indiana compared to Arkansas real estate and property tax.

I hope you understand what I just typed LOL!

Luci

[2manybills]

In California we pay property taxes semi-annually. My attorney is not including them in our means test but they are listed on schedule J.

We are filing tomorrow and am praying this goes smoothly.