Calculating Disposable Income

[Anozira]

Are minimum credit card payments considered an expense? I'm confused.

Thanks

[justbroke]

Absolutely not. You cannot include any "unsecured" debt. You should try a free Means Test at a site like Legal Consumer (LegalConsumer.com)

[Maine]

Bankruptcy will make all your credit cards "go away." You will no longer have cc minimum payments, nor cc payments of any kind.
Car Payments, utilities, food, health care, childcare, rent or house payment and insurances are all included in the dmi calculation.
There are a few more things, I agree that a means test calculator is a good place to start looking at allowable expenses.

Good Luck

[ferfermom]

how about a Home Equity Line of Credit payment? We are keeping our house, filing ch7 soon, and we are never behind on mortgage or HELC. Currently I pay the minimum to HELC, I would like to pay more to get it paid off sooner,can I pay them more, to get rid of disposable income?

[researchnerd]

I believe HELOCs are considered secured, so yes, you'd want to include those payments. But I don't think you can claim more than the amount due every month.

[ferfermom]

thats a shame. the amount due every month only covers the interest charges. I usually pay between $25 to $50 extra each month to go toward principle, would like to pay like $200 month toward principle or it will never get paid off.

[researchnerd]

Can you talk to the lender and have the monthly payment increased? Not sure if this would fly but might be worth a try.