Yet another Means Test Questions

[Freddy03]

Does my husband's VA disability check go on the means test for income?

Thanks!

[Freddy03]

Another question -

Would I list my property taxes that are defaulted in block 43A? Is that secured by my house?

[Freddy03]

anyone

[Freddy03]

bump

[Pandora]

Read here: http://www.bkforum.com/showthread.ph...ility-benefits and if that doesnt answer your questions and concerns, do a search on the forum, there are tons of threads on this very topic.

As to the property taxes, I believe it falls under Priority Claims even though not secured because its from a gov't entity. They'd have to file a proof of claim within the timeframe given - if they fail to do so, then you would not be responsible for paying it. I'm not sure where you would put it on the form though

[Freddy03]

Thanks - It doesn't put us over on the means test but might on I and J.

Is there an online way you can do I and J before seeing an attorney?

I'm asking b/c the attorney said that if we go into bk trying to do a 7 but are forced to do a 13 they 13 would have to be a 5 year plan. But if we knew that we wanted to do a 13 from the start then we could try a 3 year plan. Does that make sense?

If I have to do a 13 I would like it to be 3 years instead of 5.

Thanks

[ccsjoe]

I never found an online I and J similar to the means test on Nolo, did them long hand, old fashioned with calculator.

[Pandora]

You dont get to choose if its 3 or 5 years - your income dictates that - unless you are under median and have assets that you could not exempt and must pay for in your plan (this is our case). In that situation, even though qualified for a 3 year plan, a 5 year can be done.

You should at least have some sort of knowledge if you qualify for a 7 or 13 prior to meeting with an attorney - go here and read through, there are forms, tests, etc. http://www.justice.gov/ust/eo/bapcpa/index.htm

ETA: Forms are located to the left under DATA ENABLED STANDARD FORMS

[Freddy03]

Thanks!

You know I'm having a really hard time putting my retainer money and contract in the mail. It's been sitting on my desk since Monday. I don't now what I'm waiting for. I know BK is my only and last resort but everytime I go to touch it I get teary eyed and put it down.

I have to mail it tomorrow no questions b/c I have to send the plaintiff my finanical fact info by Monday and I included a little note that I have retained a BK lawyer.

[Freddy03]

You dont get to choose if its 3 or 5 years - your income dictates that - unless you are under median and have assets that you could not exempt and must pay for in your plan (this is our case). In that situation, even though qualified for a 3 year plan, a 5 year can be done.

You should at least have some sort of knowledge if you qualify for a 7 or 13 prior to meeting with an attorney - go here and read through, there are forms, tests, etc. http://www.justice.gov/ust/eo/bapcpa/index.htm

ETA: Forms are located to the left under DATA ENABLED STANDARD FORMS

Thanks! We are over the median but pass the means test. The only asset we have is my hubby car (that's still in my name) that's paid for. The attorney said we might have to pay the trustee the $1500 that's over the exemption to keep it. We have a neg DMI after I made a list of all our expenses.

[Pandora]

since you're over median - you'll be in a 5 year plan in a CH. 13 - however with neg DMI, Trustee wouldnt approve the plan and would force you into a 7 anyway I believe. You can be in a Ch. 7 if you're over median but have -DMI. No house payments you're late on? Do you plan on keeping the house? If you're not late on payments, then a 7 would work, just do a ride through on the mortgage. As for the car, if you cant exempt the car, then you'll have to buy it back from the trustee if he/she decides its worth taking it.

I'd consider a 7... Ch 13 only if you had arrears in your mortgage.

[Freddy03]

We are current on the house and the one car that we have payments on. Well at the time that we file (10/18) my October mortgage payment would be late (due on th 12th) but I will pay it on the next pay period.

I plan on keeping the house (not re-affirming it b/c we are under by $100K) and plan on keeping both cars. The attorney did say that maybe if the trustee took our tax refund for 10 then the car that is paid for might not be an issue.