Question about means and disposable income in ch7

[tmoschetto]

I am roughly $7,500 below my state's median income, but I keep seeing it said to be sure disposable income after all listed expenses is either negative or at least under approx. $200 or I could be switched into ch13?

I have some expenses that will change after I'm divorced and my husband stops covering me on his health insurance and things like that, but I didn't want to list those because they aren't actual at this moment.

if our monthly income after expenses is really supposed to be that low, how are we supposed to ever get back on our financial feet and actually be able to put money into savings?? Once the credit cards are gone and the car breaks down or the plumbing or something breaks at the house, then what?

I am never going to live long enough to attend my 341 on Feb. 16th.

[justbroke]

I am roughly $7,500 below my state's median income, but I keep seeing it said to be sure disposable income after all listed expenses is either negative or at least under approx. $200 or I could be switched into ch13?

It really needs to be below $109.58, but there is a rebuttable exception if it's over that amount and less than $182.50/month.

I have some expenses that will change after I'm divorced and my husband stops covering me on his health insurance and things like that, but I didn't want to list those because they aren't actual at this moment.

Correct.

if our monthly income after expenses is really supposed to be that low, how are we supposed to ever get back on our financial feet and actually be able to put money into savings?? Once the credit cards are gone and the car breaks down or the plumbing or something breaks at the house, then what?

Remember, this calculation is to ensure that you are qualified for a Chapter 7. It does not specifically go to things you can do to either reduce expenses or increase income.

I am never going to live long enough to attend my 341 on Feb. 16th.

Yes, you will. If you already filed and you're under the median and under the magic $182.50 or $109.58, then you're good to go! The 341 Meeting is literally "much adieu about nothing"... unless you're hiding things.

What was your DMI anyhow?

[tmoschetto]

$300! Should I try to bump my expenses and amend before the 341? I feel penalized because in checking some other schedules in PACER, they have what I consider "luxury" expenses...just cable for example. Trying to tread water, I cut everything down to the bare minumum, so it's only $20.

I guess I could go with a zero deductible on car insurance and things like that?

It's just that it's at $300 now, but within the year, I'll be paying my own health insurance, cell phone, etc. I was just hoping I could explain that.

[justbroke]

$300! Should I try to bump my expenses and amend before the 341? I feel penalized because in checking some other schedules in PACER, they have what I consider "luxury" expenses...just cable for example. Trying to tread water, I cut everything down to the bare minumum, so it's only $20.

yes, you should amend it! Also, you should never have cut it to the "bare minimum". It should always be your actual expenses, then let the UST complain about the amount. Now that you're changing them, you may need to provide documentation of what you're really spending.

I guess I could go with a zero deductible on car insurance and things like that?

I'm unsure if that would be justified at "this" point in time.

It's just that it's at $300 now, but within the year, I'll be paying my own health insurance, cell phone, etc. I was just hoping I could explain that.

Well, you may be able to explain it, but it's not a certainty right now. No one can say, with certainty, what your future expense might be after affects of your dissolution of marriage kick in.

[tmoschetto]

Thanks JB, for your patience as always.

I am going to go over the schedule again to see if I can find anything I can add.

[tmoschetto]

Well, I got my DMI down to $172.66. That was hard, but at least it's under the $182.50.

While I was at it, I went ahead and amended my Schedule B to put back the $453 condo dues that cleared my checking account the day after I filed and that I had originally not shown as included in my balance, so that meant amending Schedule C as well. Kind of hoping the changes will just make it look like I went over everything with a fine tooth comb one more time before 341 and not just dinking with the expenses to get the DMI down!

I am just trying to accept the fact that I'm so close, I may get forced into Ch 13. I feel like it's out of my hands at this point, but I just can't stop worrying about it.

[justbroke]

Well, at least you amended before the 341 Meeting.

[tmoschetto]

Well, at least you amended before the 341 Meeting.

I'm going to hold onto that thought from now until Feb. 16th!!

I just can't believe I didn't know about the two DMI figures. I read and re-read the NOLO book concerning Schedule J, and I still don't see it spelled out. I'm thinking maybe it's deeper in the means test narrative, which, since I didn't have to complete, I totally missed?