I made the first step - and some ?'s

[One Half Full]

Try to find an on-line telemarketing job. Many telemarketing firms have gone to low overhead where you can be contractor and work from a computer and phone system. I'm guessing you can't get rich off this situation, but you can get a moderate income while taking care of your child. Try WEST online agent

[JRScott]

Well that didn't exactly answer my question. If you want to know if you pass the income test for a Chapter 7. Take both of your income for the last 6 months and double it. That gives you the yearly income as determined by the courts. Then compare it to the median income of your state.

Even if you are above the median you can still qualify you just have to fill out the rest of the means test, with sufficient expenses you can still qualify.

[marcie26]

We lived in Illinois last year. When my husband was let go and went on unemployment I applied for the medicaid/healthy kids program thinking just the kids would be covered, but they covered us all and paid almost 100% for everything. You should check out doing that and you would probably get the kids and maybe both of you covered.

Thanks-does it cover if my DH is offered insurance for us, but doesn't take it?

[marcie26]

Well that didn't exactly answer my question. If you want to know if you pass the income test for a Chapter 7. Take both of your income for the last 6 months and double it. That gives you the yearly income as determined by the courts. Then compare it to the median income of your state.

Even if you are above the median you can still qualify you just have to fill out the rest of the means test, with sufficient expenses you can still qualify.

Well, according to this website: http://www.bankruptcyhelponline.org/...e/il-illinois/ for Illinois with a household of 4 (or even 5 if you count the baby) we are well below. Is this all I go by or is there more to it than just that number? What I mean is am I reading it right that if we make under the 72,000 something we pass the means test? If so, we do pass whether I am working or not so I could then work and save up some money before filing?

[marcie26]

Try to find an on-line telemarketing job. Many telemarketing firms have gone to low overhead where you can be contractor and work from a computer and phone system. I'm guessing you can't get rich off this situation, but you can get a moderate income while taking care of your child. Try WEST online agent

That would be great except that we have no phone line and might be getting rid of the internet (although then I would not be able to sell on ebay either)

[marcie26]

Bump!

[keepmine]

Well, the means test is the first hurdle. Then, you fill out forms I and J to determine if you have enough disposable income to fund a Chapter 13. Pratically speaking, if you are below the median, you will have enough expenses to eat up nearly all disposable income.
Money in the bank is a different issue. You need to find out how much your state will allow as an exemption.
These are questions that your lawyer should be able to answer very quickly with the initial consult.

[CindyLou]

Marcie,
Can you call and ask for your student loan to be put into forebearance??? That may help.