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Ch. 7 Questions
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Your actual expenses are used to complete Schedule J. The standards on the Means Test are merely means used to determine your eligibility. Over-estimating could be fraudulent. Be honest as to your expenses but include them all. I'm sure you have expenses you don't even realize. Get a good budget estimator online and plug away.
I would provide your spouse's documents to be safe. The attorney will know what is needed.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. -Rick
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So, what actually happens if there is a significant difference between the standards and my actual expenses?
For example (purely hypothetical), let's say we net $5,000.00/month. Going by the standards/means test, we are negative 100.00/month. BUT, going by actual expenses we are + 200.00
Couldn't the trustee put us in a 13?
I'm confused LOL!
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I guess I'm in the clear. I'm just below the median income. My disposable income is negative at this time. I have to file before my income goes up. Just not sure when to move out. Haven't paid mortgage since 11/08. I have a child I need to keep in the same school district. Thinking of trying to get apartment approved before filing for Chap 7.
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Originally posted by LittleB72 View PostSo, what actually happens if there is a significant difference between the standards and my actual expenses?
For example (purely hypothetical), let's say we net $5,000.00/month. Going by the standards/means test, we are negative 100.00/month. BUT, going by actual expenses we are + 200.00
Couldn't the trustee put us in a 13?
I'm confused LOL!
As for your expenses, I also "thought" that I had a bit too much excess income, similar to you (around $200/month). By the time I'd talked to my atty, that pretty much went away. Any home repairs needed? Medical copays expected? (over and above the norm?) An atty that knows what he's doing in these "close" cases is worth his weight in gold (or atleast silver these days.)
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