Negative $788 Net income, Schedule I - J.

[optimistic1]

Our attorney has listed on our Schedules, as -$788. Any implications therein? We are under median BTW.

Yes I am a GURU, but I want some posts, I do not wish to research this or go to the bookstore to buy the NOLO 7 guide.

[DeadManCrawling]

Well, you have about Zero chance of being pushed toward a 13.

Do you have exceptionally big expenses in housing, medical, or something else?

We were in a similar position, we had -2800/month if I recall right. It was all from a huge housing expense.

We surrendered the house and are now very much into positive territory, and putting the money in the bank each month.

If this is simply your monthly income and expenses, you need to work on figuring out how to get it to equal out, or you will truly be in bigger trouble following BK.

Best,

-dmc

[mtbc]

Our attorney has listed on our Schedules, as -$788. Any implications therein?

You're not hoping to reaffirm anything, are you? (-:

[Mi Bankruptcy]

We were negative by about $200.00 ch7 under the median. The only thing was the attorney said the judge would want to see a write up of how we planned to continue to keep our home and two cars while being negative.

[optimistic1]

Im gonna send the dumbass attorney a revised expense schedule, he fudged it all up, we are re-affirming one secured loan.

[lrprn]

What matters here is whether your local bk court accepts Schedule I minus J or the Means Test as the determiner of your disposable income. Most courts these days use Schedule I minus J but a few use the Means Test - depends on prior case law decisions. Ask your "dumbass" attorney which one is used to determine disposable income in your local court.