Means & DMI-please look and advise.

[Guidance]

Before purchasing a vehicle our attorney advised us that we were over the means by 300. We currently own two cars outright. One is our duaghter's. Both together are only worth about 3000. Our car payment is 348 (good old interest). Will that be enough to pass the means? We live in OH, two kids, rent.

She stated our DMI was over by 659! After the auto purchase, insurance increases and going over every item, line by line we have come up with the following figures. Which puts us at 87 DMI. Can someone please tell me there thoughts....I'm dying here!

SCHEDULE I
5085 AVERAGE MONTHLY INCOME

SCHEDULE J
1040 Rent
238 Electric/Gas
96 Water/SewerTrash
100 Home Maintenance
750 Food
240 Clothing
75 Laundry
240 Medical Expenses
350 Transportation
108 Charitable Contributions
76 Life Ins (increased plan that was orinally purchased in 1991)
321 Auto Ins
13 Renter's Ins.
348 Auto

OTHER UTILITY EXPENDITURES
261 Other (Trash, Internet, Cell Phone
OTHER EXPENDITURES
30 Misc Household
104 Pet-3 dogs (Food/Treats/Etc/License - 30.00, Heartworm -12, Flea - 21, Shots/Rabies - 12 ,Spay - 21,Office Visit - 7)
175 Auto Maintenance/Repairs-License/Tires/Oil Changes/Etc
65 Personal Grooming
5 Postal/Banking Fees
275 Books/School Supplies
20 Driver's Ed

[ForumReader]

Before purchasing a vehicle our attorney advised us that we were over the means by 300. We currently own two cars outright. One is our duaghter's. Both together are only worth about 3000. Our car payment is 348 (good old interest). Will that be enough to pass the means? We live in OH, two kids, rent.

She stated our DMI was over by 659! After the auto purchase, insurance increases and going over every item, line by line we have come up with the following figures. Which puts us at 87 DMI. Can someone please tell me there thoughts....I'm dying here!

SCHEDULE I
5085 AVERAGE MONTHLY INCOME

SCHEDULE J
1040 Rent
238 Electric/Gas
96 Water/SewerTrash
100 Home Maintenance
750 Food
240 Clothing
75 Laundry
240 Medical Expenses
350 Transportation
108 Charitable Contributions
76 Life Ins (increased plan that was orinally purchased in 1991)
321 Auto Ins
13 Renter's Ins.
348 Auto

OTHER UTILITY EXPENDITURES
261 Other (Trash, Internet, Cell Phone
OTHER EXPENDITURES
30 Misc Household
104 Pet-3 dogs (Food/Treats/Etc/License - 30.00, Heartworm -12, Flea - 21, Shots/Rabies - 12 ,Spay - 21,Office Visit - 7)
175 Auto Maintenance/Repairs-License/Tires/Oil Changes/Etc
65 Personal Grooming
5 Postal/Banking Fees
275 Books/School Supplies
20 Driver's Ed

Looks pretty good except there are some expenses the trustee might question such as grooming. Maybe one of the gurus will chime in. I have a question though. Your auto ins is for 321 per month?

[NoMoreCards]

I didn't notice the area you are in, or the number in your family. But these are the things that stand out to me.

Trash listed twice - just a typo probably
275 monthly expense for books and school supplies
261 seems a bit high for Internet and cell phone, but perhaps not in your area
100 Home maintenance on a home you rent seems odd.
240 for Clothing seems a bit high as well.

I would expect them to look at this carefully with the higher income level. But again, depending on your area it may be average.

All the best.

[justbroke]

If you are over the median, those numbers are going to be picked apart. As NoMoreCards listed, those are the areas where poking is going to occur. The Trustee need only find $100 of expense to "remove or reduce" in order to push you to a Chapter 13.

[Guidance]

Auto insurance is for 2 adults and two TEENS! It's crazy insane. The attorney was OK with everything. However I'm awaiting her response to the few changes I made. I increased the auto maintenance to 175 from 100, (two older vehicles) entertainment to 100 from 50, life ins to 76 from 38, auto obvioulsy jumped when we got a newer auto, pet from 50 to 104. Other expenses when we actually sat down and went over everything increased slightly, but every dollar counts.

I wish I would have found this site and known the importance of knowing your real budget. The first budget I gave her was inaccurate.

Crossing my fingers and praying for the best. The wait is terrible. She is suppose to call us after she reviews everything towards the beginning of next week.

[Guidance]

Justbroke...A question I need help with. With the purchase of a vehicle will we now be able to pass the means test? We live in NE Ohio, family of 4.

[justbroke]

Justbroke...A question I need help with. With the purchase of a vehicle will we now be able to pass the means test? We live in NE Ohio, family of 4.

Payments on a second automobile will help, but you'd need to reaffirm it. If the vehicle is say $250/month, you'll be $-170 a month for your DMI. It "might" make it difficult to reaffirm/assume (lease). However, your attorney can make your numbers work better.

[Guidance]

We own two vehicles outright and just purchased a vehicle. She stated we were over by 300. How will the new car purchase help with that number?

[justbroke]

We own two vehicles outright and just purchased a vehicle. She stated we were over by 300. How will the new car purchase help with that number?

Oh, you own two outright. Did your attorney say anything about selling one of them? I don't know what your attorney is doing with your numbers, so forgive me for that. If necessary, some attorneys will have you purchase a new(er) vehicle and/or sell a vehicle that is owned outright.

[Guidance]

No she never said a word. However, one is my husband's and the other is my daughter's. I tried doing the free online means test, but I just am not getting it! lol