Unemployment Running Out - Will Trustee Consider?

[ApresMoi]

I have a few months left of unemployment, and when that ends (barring a job offer), my future income is unpredictable.

Will a Trustee take that into consideration when looking at my Schedule I and J? I pass the means test (Form 22) by a wide margin. But I still need to fill out Schedules I and J. My expenses are very low (have been keeping them that way in order to try to pay down the cards -- obviously, since I plan to file for BK, that plan did not work).

I am just wondering if, at the time I file, my disposable income is 'close' to the acceptable ratio for a Ch. 7, whether the fact that my monthly income will expire in two months would be taken into consideration.

[OnTheRocks]

I have no idea but was in the exact situation when I filed. Each stub had a diminishing amount of income left on it and was easy to see I would be on my last check when the 341 was due. I would think it is obvious that you are in dire straights when that happens LOL.

Best luck!

[ApresMoi]

I have no idea but was in the exact situation when I filed. Each stub had a diminishing amount of income left on it and was easy to see I would be on my last check when the 341 was due. I would think it is obvious that you are in dire straights when that happens LOL.

Best luck!

Ok, thanks. I live in a city of 9 million and today? "0" jobs came up on a search in my field. Yikes! I am sure trustees see this everyday, but still...

[Bell30656]

Sometimes when there are no jobs in your field you have to take ANY old job that you can find. Especially if your unemployment is running out soon.

[lrprn]

I am just wondering if, at the time I file, my disposable income is 'close' to the acceptable ratio for a Ch. 7, whether the fact that my monthly income will expire in two months would be taken into consideration.

When you file Ch 7, future income decreases don't matter to the trustee. Everything is based on the six-month lookback. As long as you show no disposable income on your Means Test and Schedules, that will do the trick.

When entering expenses for the Schedules, try using *reasonable* figures for your amounts that match your neighborhood, especially if your actual expenses over the last six months have been a lot lower than what you could survive on long-term.

Whether you can use reasonable figures or must use proveable, actual figures on the Schedules varies from trustee to trustee. That's why having an experienced bk attorney who knows what your trustee will accept can be key when your income is close to the median and you want to file Ch 7.

[ApresMoi]

When you file Ch 7, future income decreases don't matter to the trustee. Everything is based on the six-month lookback. As long as you show no disposable income on your Means Test and Schedules, that will do the trick.

When entering expenses for the Schedules, try using *reasonable* figures for your amounts that match your neighborhood, especially if your actual expenses over the last six months have been a lot lower than what you could survive on long-term.

Whether you can use reasonable figures or must use proveable, actual figures on the Schedules varies from trustee to trustee. That's why having an experienced bk attorney who knows what your trustee will accept can be key when your income is close to the median and you want to file Ch 7.

Thanks. My income is way below the median, so I didn't have to do the means test on that Form B22 (I think that's the number). However, from what I have read, a trustee will STILL look at Schedule J and I for disposable income even if you do pass the means test. I have been keeping my expenses at rock bottom, in order to have room to make the minimums on the cards, as well as pay storage. Each month, I was falling behind by $400 or so, all of which had been covered through either savings or small increases in the credit card balances. I paid the cards faithfully ever month for years. I've reached the end: No more savings, little credit available, etc. and have not been able to replace my job There are several things I have been doing without (unwisely), like health care and dental work. If the storage unit cost will be disallowed, then I will need to review the overall picture once again. I am pretty sure that if that is not considered part of my rent (which is how I have always viewed it) then I will need to increase my other expenses. That won't be hard to do. Anyhow, thanks for the confirmation about storage. That is what I was thinking -- that they would not see that as necessary to safety and health, so it would be disallowed.