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    #1

    Negative disposable...?

    Everyone have a good weekend?

    So, I am getting ready to do my Schedules I and J, and I feel that with my school loans on there (despite my higher income) I will show a negative disposable income (around $100, or so). Should I expect this to cause a problem? Anyone with experience along this avenue?

    Thanks!
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    #2
    A $100 plus or minus should be no issue.

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      #3
      ...and if it happens to be more negative than $100...say -$200? Not sure if it will, but...

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        #4
        I think it only becomes an issue if you try to reaffirm a secured loan, but I could be wrong...
        Filed Ch 7 - 07/10/08
        341 Meeting - 08/13/08
        DISCHARGED! - 10/15/08
        CLOSED - 10/20/08

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          #5
          cool! thanks!

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            #6
            We show a negative of $2,000!!! My husband lost his job though and they are going by the unemployment income. I sure hope its not an issue come the 341. Easily explained though I suppose.
            5/29 Filed 7~ 341-on 6/24
            8/27-DISCHARGED
            11/2 - CLOSED
            EQ-604 EX-605 TU-560 ~4.5 months after discharge

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              #7
              Originally posted by momof5 View Post
              We show a negative of $2,000!!! My husband lost his job though and they are going by the unemployment income. I sure hope its not an issue come the 341. Easily explained though I suppose.
              Its not really an issue from the BK's perspective (so long as there is a plausible explanation). But from a practical perspective, you really should wait to file BK until the cash flow has stabilized. No point in filing BK if there is a high degree of certainty that you will need to live off of credit cards AFTER discharge.

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                #8
                Originally posted by HHM View Post
                Its not really an issue from the BK's perspective (so long as there is a plausible explanation). But from a practical perspective, you really should wait to file BK until the cash flow has stabilized. No point in filing BK if there is a high degree of certainty that you will need to live off of credit cards AFTER discharge.
                Yeah, we were -$600 after all was said and done, but the trustee didn't raise a stink. We're cancelling all our 'extras' (cable, home phone) so we can start putting more money away in savings.
                Filed Ch 7: 12/27/07
                341: 2/6/08
                Discharged: 4/11/08
                Finally closing: ???

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                  #9
                  Were -900.00 on our means test...I hope it won't be a big deal but we'll wait and see ....It seems it's all out of my hands at this point.

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