one more question

[confusedinVA]

Ok, I have been doing some research. I have found the bk site for my state. There is a site that you can download all the necessary forms to file the bk. i was wondering if when i get the Nolos how to book, if they will have all the forms that I will need. I dont want to pay twice for the same thing.

Also, My husband and I are making about 2800 per month, our rent and utility bills come to about 17-1800 per month. If there is money left over after figuring all of the other nec. such as food, gas, clothing etc. will this be a reason for denial of chapter 7 bk? If they see we have 10 bucks extra per week, will they say you can use that to pay old debts?

[Minnymouth]

After you have listed all your expenses vs income you have to have approx $100 or more as disposable income before they can put you in a chapter 13.....

An attorney can look at your expenses and see where they can be increased etc....... to help keep you under the median level if possible.......

Do a consultation and ease your mind............. you will feel better, know what your up against, etc.

Then if you feel comfortable doing it pro se, then go for it.....

Take the Nolo means test, and see where you stand....

Keep us posted.....

[Minnymouth]

Beaware that you have many expenses that you may not be aware of.............. such as:

haircuts
entertainment
cell phones
dog food
tithes
many, many things....

Just do a great deal of reading on this forum about what the trustee expects, looks for, etc.......

Nolo will help a lot and answer a lot of questions for you.....

[confusedinVA]

this is going to sound stupid

Is that 100 per week or month?

[lrprn]

Is that 100 per week or month?

Not stupid at all, Confused, so never hesitate to ask a question here - we all have posted our share of "stupid' questions, believe me!

The general rule is $100/month extra above and beyond your monthly expenses. This isn't said specifically in the current bk laws, $100/month or more was the guideline followed before last fall's changes in the bankruptcy law, so most judges and trustees still follow it.

[LostOne0069]

As I've mentioned in other threads, having $100/month left over does NOT necessarily mean you will be put into a chapter 13. If you're below the median income for your family size in your state, then you may be able to get a Chapter 7 regardless of how much you have left over after expenses each month.

Yes, it depends on the courts where you are.

Yes, it may require a good attorney to argue the law for you.

Yes, some people say that the courts are forcing everyone with $100/month into chapter 13... but so far I haven't heard this from someone who had it HAPPEN to them... only from people who say that attorneys have told them this....

When I hear this, I consider that the first attorney I talked to looked at our income and NOTHING else and declared that we'd have to file chapter 13 and pay $500-$750/month payments (just for UNsecured debt mind you! not counting car payments etc.). And the second attorney (the one we hired) who also happens to be a past Trustee said that chapter 7 shouldn't be a problem as long as we're below the median income and don't have too many assets we want to protect.

Just because an attorney says so does NOT make it the law. A bad attorney will give bad advice and/or will give advice that will make you go the direction that they WANT you to go. If you get a bad attorney who figures that it will take him 10 hours worth of work to get you a chapter 7 since you have $110/month left over... and only 5 hours of work to do a chapter 13... he's going to go for the one that makes him the most money for the least work.

[confusedinVA]

Thank you.

Another thing, I looked up the IRS allowance for our state and family size. We are allowed 1500 per month for housing and utilities. Are rent alone is 1200 per month. Is there going to be a problem because we are above the allowance?

[LostOne0069]

Nope, as long as you're below the median income you get to use your current rent figures rather than the IRS "allowed".

Considering the median income for Virginia for a 2 person household is $56,455, and you only make about $33,600 I would say that you have nothing to worry about.