Thank you all for you help! I feel like I am asking so many questions. We found a lawyer that we liked and seems like he knows what he is doing and really cares. We will probably be hiring him within the next few weeks. Everyone here has helped so much- I think the lawyer was impressed with how much I knew- but it's from being on here!
We are trying to see if we could do a Ch. 7. We make below the median for our county by a few thousand dollars. We are about -500 on the means test. But I have a few questions...
With the means test using the IRS standards for allowable expenses- do these cross over to your schedule J, or do you go by actuals in schedule J? For instance my county gives $1998 allowance for mortgage and utilities for a family of 5. Our actual expenditures for this is probably a few hundred lower. Can I claim the allowance or do I have to do the actual?
If you are within the allowance for a category, are you asked to prove what you have been spending on that category?
Are there any set allowances for childcare? We have 3 kids 6 yrs. and under. My husband was unemployed up until about 2 months ago so we didn't need childcare. And my mom has been helping us with some childcare over the past couple of months. So our last couple of months of childcare expenese are way under what they are going to be going foward. Will I be asked to prove my childcare expenses and if so, how do I go about doing that?
From what I can gather- if we are below the median income, are negative on the means test and have less than about $187 in DMI on schedule J, we are pretty good candidates for a Ch. 7, is this correct?
We do have arrears on the first morgage, but the lawyer we spoke with said we could probably work out a payment plan (before filing) to catch up on the arrears and get it in writing. OR we could file a "quickie 13" after the 7 was discharged to cure the arrears.
As far as child education our 4 yr. old is in preschool, so we would claim her tuition on schedule J. Our oldest is in Kindergarten- can we claim something for him for uniforms, school supplies, etc?
I am required to keep up my licensing and 2 certifications for work, which I pay for out of pocket. I also have to pay to take classes every year to keep up my certifications. Will I be asked to prove this, and if so, how can I do that? Just show the requirements to keep up my certification and receipts from what I have done to maintain them? I have not had to renew either of them yet, so once again that amount is going to be low compared to what it will be in the future.
While awaiting discharge in a ch. 7 are your expenses, bank accounts, etc watched closely? I have no plans to buy anything even remotely expensive or transfer money or anything, but was just wonder how careful you have to be.
Sorry for so many questions. Just anxious to see where all the cards are going to fall...I'm so anxious about doing a 13 and being committed to a certain payment amount per month. Our income can vary as I am an RN with a prn position, so sometimes I work a lot and sometimes I don't.
Thanks so much!
We are trying to see if we could do a Ch. 7. We make below the median for our county by a few thousand dollars. We are about -500 on the means test. But I have a few questions...
With the means test using the IRS standards for allowable expenses- do these cross over to your schedule J, or do you go by actuals in schedule J? For instance my county gives $1998 allowance for mortgage and utilities for a family of 5. Our actual expenditures for this is probably a few hundred lower. Can I claim the allowance or do I have to do the actual?
If you are within the allowance for a category, are you asked to prove what you have been spending on that category?
Are there any set allowances for childcare? We have 3 kids 6 yrs. and under. My husband was unemployed up until about 2 months ago so we didn't need childcare. And my mom has been helping us with some childcare over the past couple of months. So our last couple of months of childcare expenese are way under what they are going to be going foward. Will I be asked to prove my childcare expenses and if so, how do I go about doing that?
From what I can gather- if we are below the median income, are negative on the means test and have less than about $187 in DMI on schedule J, we are pretty good candidates for a Ch. 7, is this correct?
We do have arrears on the first morgage, but the lawyer we spoke with said we could probably work out a payment plan (before filing) to catch up on the arrears and get it in writing. OR we could file a "quickie 13" after the 7 was discharged to cure the arrears.
As far as child education our 4 yr. old is in preschool, so we would claim her tuition on schedule J. Our oldest is in Kindergarten- can we claim something for him for uniforms, school supplies, etc?
I am required to keep up my licensing and 2 certifications for work, which I pay for out of pocket. I also have to pay to take classes every year to keep up my certifications. Will I be asked to prove this, and if so, how can I do that? Just show the requirements to keep up my certification and receipts from what I have done to maintain them? I have not had to renew either of them yet, so once again that amount is going to be low compared to what it will be in the future.
While awaiting discharge in a ch. 7 are your expenses, bank accounts, etc watched closely? I have no plans to buy anything even remotely expensive or transfer money or anything, but was just wonder how careful you have to be.
Sorry for so many questions. Just anxious to see where all the cards are going to fall...I'm so anxious about doing a 13 and being committed to a certain payment amount per month. Our income can vary as I am an RN with a prn position, so sometimes I work a lot and sometimes I don't.
Thanks so much!