My Hubby and I had our 341 meeting for Chapter 7 on Thursday,9/30/10. The meeting went great. However, the Trustee then had a question for our Attorney. It apprears that his numbers on our means test was incorrect (we gave our Trustee our 6 month income and apparently our Lawyer had incorrect #'s on the means test that gave us less income). She asked him to change and resubmit ASAP and then called our case a 'No Asset Case.' Our Lawyer resubmitted our means test - which put us over the State Median, however our monthly disposable income was -500. My Lawyer says this could create a problem with our Trustee. Now I am panicking. We are self employed and our income is up and down (our Trustee was aware of this too). Any thoughts? Should I be worried or is this common?
-
Filed on 8/30, 341 on 9/30, Report of no Dist 10/7, Discharged and Closed 2/1/11
-
Hi Maddie,
Our Lawyer resubmitted our means test - which put us over the State Median, however our monthly disposable income was -500. My Lawyer says this could create a problem with our Trustee.
Being over-median on the means-test is OK if you have expenses to subtract off leaving you with a negative DMI (disposable monthly income)
Not sure why this would be a problem for the trustee......
As long as the expenses were in the standard range.
In the means test you have over/under median income and a DMI. You also have a DMI off Schedules I & J, you may need to clarify which your attorney was speaking about.
At any rate, it sounds like something your attorney needs to worry about, not you.
Good luck with your case,
Tom in Colo
The "no asset" label by the trustee is a good thing, the trustee didn't see anything to go after for paying creditors.Ch7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010 -
Tom is correct. Welcome to the forum as I see your first post.
You have no real problem. I/we were the champions of doing everything wrong. Our only saving grace was our obvious ignorance of what was going on. We since learned a LOT. You have no real problem and as 'Tom' said, you are paying your lawyer to worry for you. In fact, if anyone screwed up, his 'seat' is in the heat, not yours. 'HubIf I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.Comment
-
Thank you both for your answers! I was a little alarmed when he mentioned that us being over the median could create a problem. I will try not to stress as my DMI was so negative, I am hoping it will not create any problems.
This is such a stressful process and I am so glad forums like this exist.
THANK YOU AGAIN!Filed on 8/30, 341 on 9/30, Report of no Dist 10/7, Discharged and Closed 2/1/11Comment
Comment