HELP ! Need to know anyone else experience with Trustee, over DMI

[ferfermom]

We just filed yesterday, and this morning got a call from attorney office saying we are over DMI by $86.00 . I was told we could take our chances & proceed with our CH 7 341 in 6 weeks or convert to a CH 13. Has anyone else been so close and not have trustee object? We are keeping our house & car also, so that makes us an asset case correct? Any opinions greatly appreciated !

[ccsjoe]

When you say you are over DMI by $86, do you mean you have a positive $86 DMI or you are $86 over the DMI CH13 threshold?

[ferfermom]

We were over median for ch 7, but attorney said we'd most likely pass the means test. The way I understand it, we are over by $86 on the CH7 means test . How can we possibly pay back all our creditors & the trustee with only 86 a month doing a ch 13 ?

[ccsjoe]

There are two components. Your DMI on Means and your DMI on Schedule J. Means is only to determine presumption of abuse, it's a yes or no test, that's all. Schedule J is forward looking, determines your upcoming income and ability to pay.

You are positive $86 on means, what about on J? Now, from what you are saying, your total 60 month DMI on means is $5160, which is less than $7,025, hence box 52 on your means test should have a checkmark next to "The amount on line 51 is less than $7,025. Check box "The presumption does not arise"".

This being what is plainly stated on the actual means test, I am not sure what your cause for concern is at this moment. Your real problem, if any, will come if your DMI on schedule J is too high.

Hopefully I answered your question.

[october99]

DMI x 60 months must be more that $7025 for the presumption of abuse to arise on the means test. So that would mean you pass. Was this 86 DMI on the means test or the schedule of expenses? I would be worried that they would go looking to pick off or down some of your expenses to get more DMI for a Ch 13.

[ferfermom]

so we are $86 over on the means test, not schedule J. We are proceeding with Ch 7 and hoping for the best. Not sure how long after filing we wait for 341 meeting , I will be a nervous wreck til then

[ccsjoe]

So you have no problems then. Good to hear. 341 should be scheduled for 30-45 after the filing date. We filed 8/27, 341 scheduled for 10/6. You passed the means test, and purportedly have no issue with Schedule J. Good going!