Ugh!

[Mom2one]

I give up. We are hopefully filing bankruptcy in December. We are waiting for an abnormally high pay month to fall off and to save for an attorney., My hubby has been cut of most of his overtime and we are keeping an eye on it. I have been crunching numbers all week and was pretty sure we would be a 7.Then I realized our car will be paid up in March and there is an extra pay in October! UGH I can't win. And we cannot afford to buy a car now, with hours being cut and saving for an attorney. I am so frustrated. This sucks. We are so close to a 7!


Christine

[danaf]

December is a long ways off. You can either sell the car or trade it in for something better that will last you. Then you will have a car encumbered by a loan that the trustee cannot trust - and a payment you can factor into your schedule J.

[Mom2one]

What? I mean this is crazy we are so close to a 7 but with this extra pay in October it would show that we have disposable income and thats not true. I am so stressed,!!!!

Chrissy

[laurannm]

I agree with Dana...in March one of cars (which had been paid off for a while) which had 180K miles finally started needing major repairs (head gasket, transmission, radiator). We really couldn't afford a car either, but buying the car (and making at least a few payments before filing) adds a nice addition expense to our schedules.

[Cali]

We just filed and my hubby had 5k extra in his income for one of the 6 mths they used. We were over the median for this area, but still qualified for a C7 because of expenses.

What? I mean this is crazy we are so close to a 7 but with this extra pay in October it would show that we have disposable income and thats not true. I am so stressed,!!!!

Chrissy

[danaf]

also - just because he has an extra payday in Oct doesn't neccessarily mean you won't qualify. When you say you crunched the numbers, did you do the means test including the extra payday in Oct and then averaging it out over 6 mos? And even if you fail the means test, but your expenses still show a neg - a 7 can be done.

How much over the median are you?

[Mom2one]

We are rougly 1K over the median maybe less. I did the means tests and it would show disposable income with the extra pay in October. UGH! LOL.....

Christine

[Cali]

I think you are stressing over nothing. I posted earlier that we had a 5k increase on our income one month. We were over the median. And we just filed C7.

We are rougly 1K over the median maybe less. I did the means tests and it would show disposable income with the extra pay in October. UGH! LOL.....

Christine

[danaf]

Being over the median by 1k is not bad. If your sched J shows non-disposable then you should be fine. I noticed by your sig that you are in PA - which is good. PA allows Fed exemptions which seem to be more generous than most state exemptions. Also, I seem to recall that wages cannot be garnished in PA. So - you shouldn't be stressing so much. With only 1k over the median, an attorney can get you through a 7, esp if you have no disposable income. You are worrying too much about the means test but the means test is not the end all when it comes to filing.