How do you figure disposable income, etc? if...

[matthewsmom]

....I plan on letting my house go with the BK? Do I assume what I will pay in rent at another place? Do I need to have another place lined up??? Thanks!

[Bobby'sGirl]

You need to use what you are paying now

There is a snapshot of your financial life on the day of filing, so go with what expenses you have over the past months, and income for the past 6, as your working figures (without the payments being made to unsecured creditors being included in the BK.) You also need to refer to IRS allowable expenses for your region to see where court may question your expenses that may be greater. And if you figure on being out of the home by filing, use the housing allowance to work with what is a probable rental expense. Here are some links for you:

http://www.irs.gov/businesses/small/article/0,,id=104696,00.html

http://bankruptcyforum.com/showthread.php?goto=newpost&t=2688

[SinkingFast]

....I plan on letting my house go with the BK? Do I assume what I will pay in rent at another place? Do I need to have another place lined up??? Thanks!

Unless you're going to live with relatives, you're gonna need another place to move to. That will most likely mean paying rent. Your attny will probably want at least a couple of months of bills from the rental unit to establish your new living expenses.

I'd strongly suggest you make that move before your Credit looks too bad. That way, you've got many more options. Many larger apt complex type properties do check Credit.

If your Credit has already taken a hit due to lates, then be sure and ask prospective Landlords about their Credit requirements policy before you go paying an application fee in advance. Don't wanna waste precious $$$ only to be turned down for a place to live.