Would someone be willing to look at my Expenses?

[jlynn275]

This is the initial information, Current Expenses, that I am filling out for the Attorney. I've been reading everyone who shares theirs and I can't tell if there is something alarming on mine or not. Or how much I need to explain. Appreciate any feedback.

2 people
2 mortgages
both employed
Monthly Gross Income $4193
Take home (after taxes, insurance, HSA): $3184

Mortgage 1 & 2: $1319
Electric/Heating: $180
Water: $27
Telephone - 2 cells and basic home line: $180
Trash: $15
DirecTV: $130
Home Maintenance: $100 (salt, gas for mower, general fix up for 17 year old wood frame)
Food: $400 (includes any cheap lunches out)
Clothing: $50
Laundry/Dry cleaning: $25
Medical/Dental: $350 (high deductible insurance, chronic conditions, easily proved)
Transportation: $400 - Gas and Maint. for 2 cars (one with 90-100 mile commute each day)
Entertainment: $50
Auto Insurance: $78 (for two cars)
Car payment: $390
401K Loan repayment (auto out of check): $116
HSA contribution: $38.46
Other:
Personal Hygiene: $60 (hair cuts, makeup/hair/body products)
Pet Care: $25

Am I missing anything? Does something really jump out at you?

[janie]

I posted earlier for the first time with my expense sheet. Someone replied that I might want to raise my auto insurance because after BK it will increase!
Maybe this will get you some help from others here! Good Luck!

[jlynn275]

Thank you Janie. I hope I get some feedback too
I heard the auto insurance thing only happens in certain states, I wonder how I can find out if Florida is one of them (without calling the insurance company and alerting them to the BK lol)

[FishersMike]

Florida
An insurer shall notify an insurance applicant in writing, or in the same medium as the application, that a credit report will or may be requested as part of the application process. If the application is denied, the insurer must tell the applicant in the notice of the denial how a copy of the credit report can be obtained so the applicant can identify the items that resulted in the denial.
May not include income, gender, race, religion, marital status, ZIP code, nationality, etc. as factors. May not base rates solely on credit score or consider absence of a credit history. Must recalculate credit score after three years. File scoring models with department.



Yes Florida does use insurance scores. You can look it up here and also lists other States:

http://www.insure.com/car-insurance/credit-scoring-laws.html

[SunshineGal]

Hi Jlynn,

Food and clothing look a little low, and the trustee could argue the direct TV and 401K repayment. I would move pet care into groceries, at that amount I doubt it would be a problem on its own, but if the trustee gets nasty on the TV and 401K loan they could grab that expense too.

[tcreegan]

Hi jlynn,

Go here to see the IRS standards, it will help you see where you are high/low on things:

http://www.justice.gov/ust/eo/bapcpa/20101101/bci_data/national_expense_standards.htm

http://www.justice.gov/ust/eo/bapcpa...anstesting.htm will have other IRS standards

You use your actual expenses but this will show you where an expense is high and might get questioned.

Agree w/ SG, the food looks low, clothing looks low, the DirectTV bill might get flagged
Your atty will know if the 410K loan payment are allowed in your district
Given the long commute, transportation looks low

Since you are giving these to your atty, put in everything you can think of...look at your check register or online bank statement and see where the $$ is going. Your atty will roll these into the categories on the means-test and Sch J

Keep rolling along, so far so good!

Tom in Colo

[jlynn275]

Thanks SO much. I will check out the link.

In regards to the DirecTV - that IS our entertainment since we are broke and going out would cost us way more money. Maybe I should just take out the $50 for entertainment or lower DirecTV $50 and keep entertainment? Do they ask for copies of bills?

Glad to hear the food seems low because it IS low, but I didn't want it to jump out at the trustee. It's more like $500, but that seems high. No?

Clothing - I never buy them because I can't afford them. Do I need to? Absolutely!

Transportation seems low? Hmmm, will have to look into it more. It probably is since I know MY gas alone is around $275 a month. His is about $75-$100. So that doesn't even figure in much for maintenance.

401K loan is out of my hands - I can't change it or cancel it now (I've tried). Hopefully it won't be a problem.

Thanks so much for the help!!!

[janie]

Thank you Janie. I hope I get some feedback too
I heard the auto insurance thing only happens in certain states, I wonder how I can find out if Florida is one of them (without calling the insurance company and alerting them to the BK lol)

I looked at my credit report and can see where my insurance, Citizens/Hanover), does check periodically.
Glad to see you are getting advice from others with the knowledge!
Does anyone have an idea how much it increases??

[tobee43]

jlynn....the federal guidlines are not the best to use here in florida. (i LOVE you tom...)...

i used $400 a month for food and the trustee thought that low...
your utilities also seem low to me...and shoot we have a small house

i think you can up a few things for certain....home maintenance we did $400...you need to plan for future problems etc...trustee also didn't blink an eye....also can you PLEASE tell me where YOU get your gas!! LOL!!!! we aren't eve working and spend approx $200 just on gas alone...

in others i not only think you are just fine...i think you are realistically low on many items.

[jlynn275]

LOL! Maybe I need to evaluate some things more realistically.

On my electric, we have budget biller and it runs anywhere between 170 and 200. but never below or above that anymore. My house is semi small, about 1400 sqft and we keep it COLD.

Gas - I drive a Nissan Altima and fill up every week for about $55 - JUST for work (highway). My husband drives a Nissan Sentra and fills up every 2 weeks for about $30-$40. (all of course depending on prices). We also hardly go anywhere besides work because we can't afford to, but when we do it's at least a 20 minute drive to town because we live in BFE. So that's where I came up with $400. I don't know, this is so hard!!

Home maintenance is another hard one. On a regular basis we have to buy salt (around $60) to fill the water softener...but we don't do it every month. So I figure it averages $25 a month for that. Then gas for the mower. Air and water filters. Everything else we just let slide because we can't AFFORD to do anything. But we had to buy siding and termite stuff to fix one section - that cost around $120. But that's not a regular expense. OMG - I have no idea!

[malibu]

I heard the auto insurance thing only happens in certain states

Man that sucks, I didn't know about that until now, and sure enough in California they can. My credit has been screwed for years, and it never added anything to it, so I'd hope that the bankruptcy which will actually increase my credit score wouldn't cause a change. sigh.

[tobee43]

LOL! Maybe I need to evaluate some things more realistically.

On my electric, we have budget biller and it runs anywhere between 170 and 200. but never below or above that anymore. My house is semi small, about 1400 sqft and we keep it COLD.

Gas - I drive a Nissan Altima and fill up every week for about $55 - JUST for work (highway). My husband drives a Nissan Sentra and fills up every 2 weeks for about $30-$40. (all of course depending on prices). We also hardly go anywhere besides work because we can't afford to, but when we do it's at least a 20 minute drive to town because we live in BFE. So that's where I came up with $400. I don't know, this is so hard!!

Home maintenance is another hard one. On a regular basis we have to buy salt (around $60) to fill the water softener...but we don't do it every month. So I figure it averages $25 a month for that. Then gas for the mower. Air and water filters. Everything else we just let slide because we can't AFFORD to do anything. But we had to buy siding and termite stuff to fix one section - that cost around $120. But that's not a regular expense. OMG - I have no idea!

NO! don't let the maintenance budget slide...what happens if the water heater goes etc. you really need to plan on that....so average one large replacement item...that's how i figured it. we change our air filter 2x a month! that's like $30 a lone!! get what i'm getting at..;)...NOT a cheating bone in my body...but always be prepared!!

the heater JUST went out in our car...it's going to be about 900 dollars to fix!! so that's my point. (remember tonight's getting down to 42 degrees) a bit chilly for us

[jlynn275]

I'll do a little tweaking based on the advise here, thank you!!
One other thing, do they base Disposable on gross or take home? Seems like a dumb question, but I honestly don't know

[free2breathe]

Your DMI is take home pay - expenses.

[jlynn275]

Your DMI is take home pay - expenses.

that's what I figured, but good to know for sure! YAY!