Question to file 7 or 13 ?

[molly2073]

Hi new to forum. Havent filed yet. met with lawyer this week. we are about 10k over means of income, lawyer says to file 7. although at end of visit she said maybe we could still file for 7. about 300.00 left over after all expenses. what do yall think. what are the rules for chapter 7 if your over means income? Thanks

[newbie2]

Hi new to forum. Havent filed yet. met with lawyer this week. we are about 10k over means of income, lawyer says to file 7. although at end of visit she said maybe we could still file for 7. about 300.00 left over after all expenses. what do yall think. what are the rules for chapter 7 if your over means income? Thanks

If you are $10,000 over the median and have $300 per month in disposable income you should get a 2nd opinion. And a third.

Also, make sure that you are including all allowable expenses. There are many threads on this forum that are full of info on what allowable expenses are in order to help you not forget to include anything.

Good luck.

[angles]

Do a search on BK 707(b). Basically it states that if you show over $100.00/month income above your household expenses your BK7 could be dismissed because you could afford to pay something back to your creditors. This is for a consumer BK, BTW.