I have met with an attorney and am going to file chap 7 hopefully.
I have $104,000.00 in unsecured debt. My gross income is $5166.00 a month.
I was reviewing the paperwork he gave me and had a question about Expenditures. Everything I have read online states that your disposable income needs to be less than $6000.00 over the next five years or roughly $100.00 a month. I have also read the figures of $166.00 and $180.00 a month. Because my income is over the median amount here in Georgia I want to make sure that I am not cutting my self short on any expenditures that I need to put down. Any advice on what to put down or what not to put down on expenditures? Is there a limit set on any amount...say food? Also, are those numbers correct above? I figure if I am going to file then I am going to do my best to be able to file chapter 7. I need some helpful advice/suggestions from everyone please. This is a very stressful time. I have read up on the means test and everything seems to point to how much disposable income you have as to whether or not you can file Chap 7 or will have to file Chap 13.
I have $104,000.00 in unsecured debt. My gross income is $5166.00 a month.
I was reviewing the paperwork he gave me and had a question about Expenditures. Everything I have read online states that your disposable income needs to be less than $6000.00 over the next five years or roughly $100.00 a month. I have also read the figures of $166.00 and $180.00 a month. Because my income is over the median amount here in Georgia I want to make sure that I am not cutting my self short on any expenditures that I need to put down. Any advice on what to put down or what not to put down on expenditures? Is there a limit set on any amount...say food? Also, are those numbers correct above? I figure if I am going to file then I am going to do my best to be able to file chapter 7. I need some helpful advice/suggestions from everyone please. This is a very stressful time. I have read up on the means test and everything seems to point to how much disposable income you have as to whether or not you can file Chap 7 or will have to file Chap 13.
Comment