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Means Test - Less than 25% of debt

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    #1

    Means Test - Less than 25% of debt

    I did the means test and it shows that we would have $129/month disposable income. It says we pass the means test beacause 25% repayment of our debt would be $16,773 and we could only pay $7,711 over 5 years.

    So does this mean we'd automatically be eligible for Chapter 7, or can the trustee still force us into a Chapter 13?
    Filed Ch. 7: 10-28-2010 Report of No Distribution: 12-16-2010 Disharged and Closed 2-18-1011
    Tags: None
    #2
    Means test is only the initial screening. It means that you can file for CH7, not that it can not be changed at the discretion of the trustee.
    Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
    AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC

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      #3
      Still depends on your actual expenses. But in general, as long as your actual expenses show little or no DMI - you're not likely to be scrutinized.
      Get mortgage modified: DONE! 7 months of back interest payments amortized, payment reduced over $200/mo
      (In the 'planning' stage, to file ch. 13 if/when we have to.)

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