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Means Test - on gross or net income??

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    Means Test - on gross or net income??

    Was wondering, do they take your gross or net income to calculate the means test in Ch. 7?

    Would appreciate advice.... dreading having to file Ch 13 and be a slave to the court and creditors for 5 yrs.
    Stopped paying c. cards February 2009
    Retained attorney 11/5/09 - $100k in C.Card debt - $120000 per year income - Filed Feb 2010 - 341 Apr 2010 - No Asset Case/Report of No Dist Apr 2010 - Discharged June 2010
    Case went without a hitch!
    I HELD MY HEAD HIGH IN THAT COURTROOM AND NOW I AM MOVING ON!

    #2
    I think it's gross. Yeah doesn't make much sense since sched I is net.
    Filed: 6-7-2010 341: 7-15-2010 DISCHARGED: 9/17/2010

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      #3
      Gross income, but if you don't fall below the median in the first section you are able to take the income withholding deductions in the second section.

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        #4
        Gross..but you are able to account for all deductions.

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          #5
          It is gross. There is a line item later in the means test to account for taxes and deductions from your pay.

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            #6
            It's gross unless you have a sole prop, or other small biz. Then it's adjusted gross.
            No Asset 7 closed 11/09

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              #7
              Originally posted by calgirl67 View Post
              Was wondering, do they take your gross or net income to calculate the means test in Ch. 7?

              Would appreciate advice.... dreading having to file Ch 13 and be a slave to the court and creditors for 5 yrs.
              it's your gross income. On the means test they do let you put what you pay for taxes, medical etc.

              Just be careful on the tax portion- if you always get a huge refund- the trustee will likely question your withholdings and disallow some money monthly.
              Filed Pro Se: 10/16/2009
              341 Scheduled: 11/23/2009
              Last Day for Objections: 1/22/2010
              Discharged: 1/28/2010

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