If I have negative disposable income?

[trying2getby]

What happens?

I just completed the form on legalconsumer.com (followed a link on another post).

Using the standard allowances for my family size and region, my disposable income during the plan comes out -$547.

I realize that some things may be adjusted, but has anyone had this actually happen? How was it handled?


According to the site I used, this would qualify me for a Ch 13 or 7. Has anyone begun with a 13 and converted to a 7? If so, does it look like 2 BK on your credit report?

[lrprn]

If you are hoping to file Ch 7, then you WANT negative disposable income. Are you hoping to file Ch 13 because you are behind payments on assets you want to keep?

[trying2getby]

yes, mostly

I am only 1 payment behind on my mortgage & truck. However I like that a 13 would be off my credit report sooner, and I could refinance my ARM in a year.

[dragonnfly]

We were -1000 that puts you toward a 7. You can refinance 2 years after a ch 7 and have a better chance at getting approved because you dont have that payment hanging over you. Dragonnfly