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Calculating income for the means test

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    Calculating income for the means test

    I make about $ 1,900 per month teaching but my contract is only less than 9 months. If my pay is prorated over the whole year it comes out to about $ 1,400 per month. I also pay about $220 per month for medical insurance (I am self insured) and another $150 into a retirement account - I have no other source for retirement savings.

    How will my monthly income be calculated?

    #2
    This is very much a district by district issue, but the rule is, LAST 6 months income. The calculation is based on last 6 months of PAY STUBS, so you don't get to prorate, at least, not on the means test.

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      #3
      We requested our income be calculated over 12 months due to big seasonal fluctuations. The atty had no problem with it.
      10/27/11 - Filed Ch13 ------ 2/27/12 - Conversion to Non-Consumer Ch7 ----6/11/12 - Discharged!

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