Too Much Negative DMI?

[dumpinmydebt]

Hmm, I'm probably overthinking this. We're filing next Monday, so I'm a little nervous now.

But I'm wondering, can one have so much of a negative DMI that it hurts the filing process? Like, are they going to look real hard at my spending when they see a high negative DMI?

I can work the numbers so I do not have such a high negative DMI, but when I put in what I really spend (which is still less than the IRS standards) I come up with having a DMI of about -$275.

Is there a good number when it comes to negative DMI?

In all honesty, what keeps us afloat are the student loan refunds we receive (which I have exempted as a cash asset.) Otherwise, we couldn't afford daily living expenses.

[justbroke]

For a Chapter 7, you want it to be negative, or just barely in the positive range if you are reaffirming a debt. (Whether you should reaffirm anything is a serious financial decision and a totally separate subject.) There is no magic number when it comes to a negative DMI. Some might ask you why you would want negative DMI even after receiving a discharge, but it doesn't prevent a discharge.

If your DMI was over (positive) $109.58 or $182.50, then you'd be subject to a motion to dismiss or convert (to Chapter 13).

Having wrote all that, if your DMI is still going to be negative after you receive your discharge, you really need to sit down, review your budget and lifestyle, and try to bring it back to the positive side. Living in the negative is unsustainable. We all here are proof of that!

[Dee]

We are negative $700+ on our DMI. My husband's unemployment compensation is the only thing keeping us afloat right now. REALLY hoping he can at least find a job to bring in that same amount before his UC runs out!

[justbroke]

I understand Dee and I'm hoping you get back on the plus side. The negative DMI is unsustainable, and I know that you know that.

[tobee43]

we were negative $3.790.00 or thereabouts.

[dumpinmydebt]

Ok. Thanks so much for your help.

Dee - I hope your husband is able to find a good job. Best of luck to you.

[mommi2many]

This is a great thread because I am -$450 right now because I'm worried that some of my expenses can be challenged like cable, cell phones, internet. I used legitimate expenses to arrive there, but was concerned if I didn't list enough I could end up in a 13. I'm just hoping for the best and probably worrying myself too much over this.

[october99]

Great thread! I too have wondered about this as I've put together expense budget without DH's income going forward.

[drowning123]

Mine was -$1,800 something. Nothing was questioned, but that's just my experience.

[Fallonedward]

We are at negative -600 also because of hubby's job loss and our UI is keeping us just barely above water

We are negative $700+ on our DMI. My husband's unemployment compensation is the only thing keeping us afloat right now. REALLY hoping he can at least find a job to bring in that same amount before his UC runs out!

[tcreegan]

Hi dumpinmydebt,

what keeps us afloat are the student loan refunds we receive

Just a friendly warning, we went down the student loan path and have regretted it ever since.
They never go away, as another poster said, it is 'indebted servitude'
Seriously, if I had to do it all over again, I would have chosen the homeless shelter and two shifts at McD before I took out any student loans...

Hang in there,

Tom in Colo

[dumpinmydebt]

Thanks Tom. We don't plan on needing the extra for long, plus our school is really, really cheap so we're not taking out a ton. We both go to a community college.

Well, I thought I had a high negative DMI. Glad I'm not the only one and good to see others making it through with even higher.