Expenses

[betpie]

I am filing a simple, no frills Ch 7 in a couple of weeks and I am working on Schedule J- Expenses. I only have the basic ones- rent, electricity, cable/internet, food, blah blah blah and my average net income (at the bottom of the form) ends up being just under $300- is that amount going to raise any eyebrows? It feels like peanuts to me, but I'd hate to be told that I'm supposed to be able to get out of debt with that. Also, should I start digging up bills and receipts for all of my expenses? How likely is it that I'm going to have to provide those things?

[eddiep]

if you are over the IRS standard expense in any of those categories you will have to show reciepts as proof.

[betpie]

Thanks. Are there guidelines for that somewhere? I don't think it's in my NOLO book...

[Lajazz947]

Thanks. Are there guidelines for that somewhere? I don't think it's in my NOLO book...

Google IRS standard guidelines bankruptsy.

It's a ***** to work through but its figureoutable.

[coolgurka]

Do I have to do the expense schedules all by myself or does the attorney help to figure that out? I am wondering if I need to do all the schedules in detail BEFORE I go to see an attorney. I know I am under the means test since I haven't had a job for 2 yrs , no assets etc.

[eddiep]

here is a link to the national standards

http://www.usdoj.gov/ust/eo/bapcpa/20090315/meanstesting.htm

[eddiep]

coolgurka

no, luckily that is what you have paid your attorney for (filling out the forms for you), I filled them out just to get an idea of where I stand. I got into this mess because budgeting was not my strong suite, as a matter of fact spending too much money is a problem too If the trustee sees that you are spending more than the standard he can fight you on that item. If you can prove that you spent that much and it is necessary, you can fight back but if not it could get cut from your budget, freeing up money to pay towards a ch13.

[mamaluv]

Do I have to do the expense schedules all by myself or does the attorney help to figure that out? I am wondering if I need to do all the schedules in detail BEFORE I go to see an attorney. I know I am under the means test since I haven't had a job for 2 yrs , no assets etc.

My attorney (actually the paralegal) did all the forms with me in the office. We went over all of my expenses, etc. I would recommend looking at the national standards to see where you stand...see where you are over/under.