i saw my attorney on Wendsday and explained pending loss of wifes unemployment, attorney caluclated income for family of 5 approx 4900 mth including unemployment , sd last years income 80500 above median for michigan and does nt qualify for 7, sd to fill out new i and j schedule to see if cld have new plan payment lowerd since home was included in bankruptcy filing....when i look at means test and compare the numbers it shows we would be... i just know that the 2100 mth rate only leaves us with 1700 mth including the unemployment for all expenses left over like food clothes , insurance, gas maintence...I get the feeling that my attorney nt really trying to help us and she said we would have to lower expenses by eating peanut butter and jelly if we had too! I need help fast! should i dismiss or what?
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How much of your payment is your house payment?Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
0% payback to unsecured creditors, 56 payments down, 4 to go.... -
I'm confused about why last year's annual income is significant. The means test is a 6 month look back.
Also the means test includes expenses like food, vehicle expenses so I'm not sure how you could take a means test and it tell you what is left for those things. It should be the other way around - deducts the standard expenses, plus some actual ones you have, and then tells you what is left for a plan.Get mortgage modified: DONE! 7 months of back interest payments amortized, payment reduced over $200/mo
(In the 'planning' stage, to file ch. 13 if/when we have to.)Comment
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Ah, but logic and reason have no place in the "golden rule" of the means test. The CC's spent a lot on lobbyists to get the new laws past, proving that they still have the gold and so they get to make the rules.Originally posted by SMinGA View Post03/25/10: filed BK13, 05/05/10: 341 completed,
06/24/10: confirmed (7% to unsecured)Comment
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thanks for the replys, the house payment is 824, as far as means test, i was using that to reference income, income for me is 2240 bi wk and wife is 1200 mth unemployment hope this helpsComment
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What are other expenses? Sounds like perhaps the atty is being lazy and assumptive. As in, you have $4850 average net income in MI and should be able to live on that. But knowing the income means nothing without expenses.
What does the plan payment include? (In terms of priority debt?)
What other expenses do you have?Get mortgage modified: DONE! 7 months of back interest payments amortized, payment reduced over $200/mo
(In the 'planning' stage, to file ch. 13 if/when we have to.)Comment
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For what it's worth my wife didn't file for UC after she got laid off bcause it would have put us too far over to pass the means test. After the 341 she started filing. It meant we had to scrape by for about 3 1/2 months, but was worth it to qualify for Chap 7.
Your lawyer may not be very interested in a Chap 7 because she may make less money than in a Chap 13. I hope this is not the case, but check with some other lawyers before you decide on a Chap 13. Unless you are trying to keep some assets that are above your exempt amounts, a Chap 7 is far better than a chap 13.Wife Laid off - 11/16/2009 Missed First Payments - 12/5/2009
Filed Chap 7 - 12/31/2009
341 - 2/12/2010
Discharged - 4/19/2010
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I'm concerned that your attorney didn't address what is going to happen when your wifes unemployment ends. If I remember correctly that is going to happen soon.
If the $1700 a month to live on includes your wifes unemployment then you're going to be in a real pickle soon.
I'm sorry Dadof3 that you didn't get a clear answer from your attorney on how to proceed.Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.Comment
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