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Under the Means test by 50.00

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    Under the Means test by 50.00

    Can anyone explain exactly what that means for my case, my attorney's paralegal advised I am under the means test by 50.00, she said therefor I may have to provide copies of all my expenses, has anyone been thru this situation before, should I go forward, all the expenses I have listed are true and I have not issue providing, I am just really apprehensive about being under by 50.00.

    #2
    Just give your attorney/paralegal the info requested, I was over the median by 21k and was able to file a ch 7 without hassle. It's all about your expenses, you need to have less than $167 in disposable income per month.

    Go here and plug your info in and see for yourself: www.legalconsumer.com


    Good Luck!
    May 2008 Hired 1st Attorney/Stopped paying CCs
    May 21, 2009 Retained 2nd Attorney
    May 28th - Filed for Ch 7 (FINALLY!)
    9/11/09 - DISCHARGED!!!!

    Comment


      #3
      @ liz417 - whoa!! well then I dont feel that bad then. I just cant afford to be doing anything than a chapter 7, my lawyer is making me concerned, I am meeting with him on monday to discuss.. Thanks for ur comment.

      Comment


        #4
        Originally posted by bkbound09 View Post
        @ liz417 - whoa!! well then I dont feel that bad then. I just cant afford to be doing anything than a chapter 7, my lawyer is making me concerned, I am meeting with him on monday to discuss.. Thanks for ur comment.
        Do your expenses exceed your income? Are you in the (-) every month? Go to that website and do the means test yourself...it'll give you peace of mind.
        May 2008 Hired 1st Attorney/Stopped paying CCs
        May 21, 2009 Retained 2nd Attorney
        May 28th - Filed for Ch 7 (FINALLY!)
        9/11/09 - DISCHARGED!!!!

        Comment


          #5
          Originally posted by liz417 View Post
          Just give your attorney/paralegal the info requested, I was over the median by 21k and was able to file a ch 7 without hassle. It's all about your expenses, you need to have less than $167 in disposable income per month.

          Go here and plug your info in and see for yourself: www.legalconsumer.com


          Good Luck!

          The means test I took stopped and said you dont have to take the rest of the test, you are under the state median income with a -500...

          Comment


            #6
            Originally posted by wantout View Post
            The means test I took stopped and said you dont have to take the rest of the test, you are under the state median income with a -500...
            If you UNDER the median, you won't have to complete the 2nd portion of the test. You should be fine.
            May 2008 Hired 1st Attorney/Stopped paying CCs
            May 21, 2009 Retained 2nd Attorney
            May 28th - Filed for Ch 7 (FINALLY!)
            9/11/09 - DISCHARGED!!!!

            Comment


              #7
              There are two tests when you file. Median income level for your state and the means test.

              Median income has to do with how many people you have in your household and how much money you make per month. There are certain limits per state that you have to be under to qualify for Ch7.

              The means test is taking all of your expenses and subtracting them from your income. If you are below a certain amount (someone above mentioned 167/mo) then you qualify for Ch7. If you are above that they can make you file Ch13.

              My understanding is that even if you are under or over the median income for your state. You still have to file the schedules regarding income/expenses. If you have a certain amount of 'disposable income' you can be forced to a Ch13.

              If I am wrong please correct me. It seems to be the answer in a lot of posts here.

              I would suggest going over your income and expenses very carefully so that you have missed nothing on either side. If you are still in the negative or very low disposable income and can back it up, you should be fine for Ch7.
              9/30/09 * Filed Ch7
              11/9/09 * 341 - Uneventful
              1/11/10 * Closed

              Comment

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