Means Test - Line 23/24 Transportation ownership/lease expense
We're currently reviewing our chapter 7 filing papers our lawyer prepared on Friday. Plan is for a Monday signing. We'll be asking the lawyer these questions on Monday too, but thought I might ask them here for insight.
We have two vehicles we'll be keeping. One we own which will be exempted, and the other is a lease. Neither 23b/24b show our lease payment amount, but [$0] instead. Should it? Nor do we see the lease payment under line 42 where it would be referenced instead, but there is no room there for it.
Our inclination is that since there was no room on line 42 where this cost gets added back in, the lawyer just didn't use line 23b/24b. Is this plausible?
Another thought is that lease payment is not considered a debt, but an ownership cost maybe, and therefore covered under the standard deduction under 23a/24a?
Anyone with experience, chime in. Thanks in advance.
We have two vehicles we'll be keeping. One we own which will be exempted, and the other is a lease. Neither 23b/24b show our lease payment amount, but [$0] instead. Should it? Nor do we see the lease payment under line 42 where it would be referenced instead, but there is no room there for it.
Our inclination is that since there was no room on line 42 where this cost gets added back in, the lawyer just didn't use line 23b/24b. Is this plausible?
Another thought is that lease payment is not considered a debt, but an ownership cost maybe, and therefore covered under the standard deduction under 23a/24a?
Anyone with experience, chime in. Thanks in advance.
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