Means Test question

[cash]

I tried the Means Test at Nolo. I don't understand most of it and I am wonder do they want your gross or net income? How do you figure in all the bills and CC that are defaulted on and reported in the Means Test? What about car repoes, do they have a spot on it for that too? This is confusing.

[Freddy03]

You only list payments to secured creditors on the means test (ie: Mortgage and Car payments). And you put your gross income then there is a spot to list your taxes.

You do not list credit card payments, student loan payments, etc.

Hope that helps.

[ccsjoe]

Take a breath and read each lne item. If necessary, go to the bankruptcy court website and download the official forms for the B22A (means test) and read the line item descriptions. They will become for the most part self explanatory. Here's the link for the official form: http://www.uscourts.gov/uscourts/Rul..._022A_0410.pdf

Use your gross income; taxes are listed separately
Do not include any unsecured debt, credit cards, student loans
Do include secured debt such as auto loan, mortgage

[cash]

Even if the vehicle has been returned to the lender or repoed? How does that work? Thanks for all the advice.

[ccsjoe]

If vehicle has been repoed or surrendered then I believe you should not be able to include it....anyone with more specific experience about this please chime in?

[cash]

But there is a deficency on two that I had repoed. What about mortgage? I am single but share the mortgage with someone, does is get split down the middle as far a the payment goes? Thanks again.