A little worried

[TBLTZ]

Im about 2500$ over the state median for monthly income. Anyone make a chapter 7 being that much over?

Also what is the highest amount that someone has put down for monthly child care for the means test?

Thanks

[LimpDisc]

Were $13,112 over the annual median income for Colorado and filing chapter 7.

[mama2three]

We filed Chapter 7 and were about $7,500.00 over median. We went through our 341 and past the ten days with no problem. We are now in the 60 day club.

It is all about your expenses, the results of the means test and your schedule J, which determines if you have DMI to fund a Chapter 13.

We put $400.00 down for child care, which is pretty low for three kids because our MIL and FIL watch the kids for us.

[TBLTZ]

We pay 500 a month for child care which is cheap because family watches our child. Im thinking you can fudge this number a little to around 700. Which is true because If I had to send my child to a real daycare i believe that start around 200 a week. When I bump that to 700 I can pass the means test.

If I play with the nubmers I can pass...... Im over the yearly amount by 28k anyone every pass with that?

[liz417]

I was over the median by 21K, discharged last week. It's all about the numbers...

Good Luck!

[TBLTZ]

I was over the median by 21K, discharged last week. It's all about the numbers...

Good Luck!

Thanks you give me hope.....

Question to anyone. is the 6 months of income the average of each month added up then divided by 6 or the median of the 6 months?

Thanks

[LimpDisc]

If you filed today the income would be based on adding up March, April, May, June, July and August. Divide that number by 6.

[TBLTZ]

If you filed today the income would be based on adding up March, April, May, June, July and August. Divide that number by 6.

sweet.

Thanks!

[liz417]

Thanks you give me hope.....

Question to anyone. is the 6 months of income the average of each month added up then divided by 6 or the median of the 6 months?

Thanks

It would be the last 6 months of pay (includes all extras like bonuses, other sources of income, etc) then divided by 6

[hereforinfo]

We pay 500 a month for child care which is cheap because family watches our child. Im thinking you can fudge this number a little to around 700. Which is true because If I had to send my child to a real daycare i believe that start around 200 a week. When I bump that to 700 I can pass the means test.

If I play with the nubmers I can pass...... Im over the yearly amount by 28k anyone every pass with that?

I would be cautious about "fudging" any numbers if you don't have receipts to back it up. Looking at your bank statements the trustee could easily see that you write the check out for $500 each month.

[TBLTZ]

I would be cautious about "fudging" any numbers if you don't have receipts to back it up. Looking at your bank statements the trustee could easily see that you write the check out for $500 each month.

We actually pay the baby sitter cash. They want cash and I don't ask why. You can see the atm withdrawls. If it becomes a problem I will start paying with a check. But Im think im good now as I just reran the numbers with the normal daycare rate.

[leena]

I know that for over median filers and/or people with unusual expenses or expenses beyond the IRS standards, they can definitely start getting into receipt world. Wiggle room is much more available to under median filers within the IRS expense standards.