Well we selected and secured an attorney at a local law firm. They had us fill out a packet of paperwork and then a paralegal entered it on their forms for the attorney's review. I received a copy for my review yesterday and notice that on the means test they have listed my net income versus gross. By doing this I easily pass the means test, but otherwise I would be slightly over. Is this common to use net versus gross income? I am in Northern Indiana.
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Filed Chapter 7: 10/29/09 341 Meeting: 12/02/09
UST involved: 12/12/09 UST out: 1/10/10
Last day for objections: 2/01/10 Discharged: 2/8/10 -
I don't think there is an option. To see whether or not you are above/below median, they use your gross income. If you need to continue with the means test, then they will end up subtracting expenses for taxes and insurance. -
Well I called the attorney and asked him about the discrepancy and he assures me that it is in order. Does anyone have any advice? Am I suppose to just blindly follow my attorney...I selected this firm because one of the area trustees works for this firm so they should know whats going on.Filed Chapter 7: 10/29/09 341 Meeting: 12/02/09
UST involved: 12/12/09 UST out: 1/10/10
Last day for objections: 2/01/10 Discharged: 2/8/10Comment
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That's why you paid him. He must know what he's doing.Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -RickComment
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Gross income is used in determining weather or not you are above or below the median income for your state, but net income is used in determining your income vs. your expenses.
For example, if your take home pay is 2100.00 per month, and your monthly "reasonable expenses" (attorneys are great at helping with that one!) are 2099.00 per month, you have $1.00 per month of disposable income and qualify to file a Chapter 7.Filed: 9/9/2009
341: 10/13, went well!
Discharged 12/17/2009
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