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Expenses if under the median income?

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    Expenses if under the median income?

    How close does the trustee look at your expenses if you are under the median? Do they just fly through it or what? We are about 8K under the median, so is that "close" to them? enough for them to look at expenses and such? I was just curious because our expenses come VERY close to our income.

    #2
    Originally posted by sofarindebt View Post
    How close does the trustee look at your expenses if you are under the median?
    We were under the median by about the same amount. Our trustee was concerned because my attorney had cut my expenses so low, for instance, 275.00 a month for food for a family of 5. I believe that as long as you are within or below the standards, you should be ok. That is provided you don't have anything excessive in the "Other" categories.
    I used to have a life, now I have grandkids.

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      #3
      There was a recent thread about "How Much Monthly Deficit?".

      http://www.bankruptcyforum.com/showthread.php?t=12871

      It's really gonna depend on your own particular circumstances.

      We had a drop in income that put us below the Median. We didn't owe for a car, house, or anything Secured or Priority. Just the CC debt and monthly living expenses. Our attny showed us +$12/mo on I vs J for our living expenses.
      Filed Ch 7 - 09/06
      Discharged - 12/2006
      Officially Declared No Asset - 03/2007
      Closed - 04/2007

      I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

      Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

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