Tomorrow . . . .

[tightgrip]

We have to go over all our expenses over the phone with the paralegal handling our petition. I am soo nervous because we have been waiting since February to find out what we are filing a 7 or a 13. She called on Friday and said thay we didn't pass the means test but she wanted to make sure she had all our expenses. So we may be pushed into a 13. What expenses actually go into your means test? We have:

2 vehicles (1 surrendered in Feb 1 current)
1 toy hauler (repo'd in Feb)
1 UTV (current)
HSBC Card w/2 dirtbikes on it Secured
CC Debt 8 cards total 7K
Student Loans 40K

I know initially I had put about 500 a month for food and I know we use way more than that with our family of 5. Any help with this would be great. What exactly is the difference between a 13 and 7? I know 13 is payback but what exactly goes into that payment your vehicles and all payments? I just dont know where we sit right now I know we are about 3K over the median. We just have allot of secured debt and now we will have two deficency balances so how will that go about? Wish me luck tomorrow. I was hoping we would be closer than where we are right now!!

[Meatstick]

Do you not have a housing payment ?

Just looking at your above post you have 1 vehicle already surrendered,1 UTV,1 Toy Hauler, HSBC Card, CC Debt and Student Loans that will not be used as deductions in your means test.

Very hard to be above median income and pass the means test with lack of sizable deductions.

If your above the median and have a positivee DMI on schedule J then you will be put into a Ch.13.

Good luck !

[tightgrip]

No we do not have a house payment. We rent. So your student loans, CC and vehicles that have been repo'd cannot go into your means test? I am soo confused with everything and our attorney prepared us for a 7 so really having to look into a 13 I really don't know much. Thanks for your response!

[LALADY]

Tightgrip,

Here is the means test for Ch7.

http://www.uscourts.gov/rules/BK_Forms_08_Official/B_022A_0108f.pdf

Here is an online calcuator for Ch7

http://www.legalconsumer.com/bankruptcy/nolo/

Enter your zip code and then follow the prompts.

Your attorney should have asked for a detailed list of all of your income and expenses. Everything is important, so don't leave anything out.

[momofthree]

I would think they would automatically use IRS standards for your means testing. If they only put down $500 for food for a family of 5, then your numbers are going to be skewed and not in a good way.

Here are the IRS standards that you are allowed to claim for means testing:

http://www.justice.gov/ust/eo/bapcpa/20100315/meanstesting.htm

[Jackdog]

Wow I wonder if they'll even ask to seem my bank statements. I put everything I get in and pay out honestly. Didn't claim more on anything than what's allowed and it says my disposable monthly income is $17.00. Sad thing to see tho.