Hello everyone. After months of trying everything in my power to avoid chapter 7, I've finally decided to pull the trigger and file tomorrow. I need to get a handle on this debt. My attorney says I have a 'slam dunk' chapter 7 case, but I'm terrified of being forced to convert to a Chapter 13.
The basics:
State: Utah
Household size: 1, no dependents
Median Income: $50,070
My annualized currently monthly income: $56,174.28
Priority debts (IRS and Utah State Taxes): $14,320.00
Unsecured debt: $68,000
Secured debt: $26,000 (reaffirming)
Assets: Nothing non-exempt. $13 to my name until next paycheck!
Here's the schedule J my attorney prepared today:
4. Rent: $650.00
4b. Renter's Insurance: $30.00
4c. Home upkeep expenses: $35.00
Utilities:
6a. Electricity, heat, natural gas: $65.00
6b. Water, sewer, garbage collection: $0.00
6c. Telephone, cell phone, Internet, satellite, and cable services: $85.00
6d. Other. Specify: Internet and Cable: $112.00
7. Food and housekeeping supplies: $350.00
8. Childcare and children’s education costs: $0.00
9. Clothing, laundry, and dry cleaning: $100.00
10. Personal care products and services: $50.00
11. Medical and dental expenses: $408.00
12. Transportation. Include gas, maintenance, bus or train fare: $377.00
13. Entertainment, clubs, recreation, newspapers, magazines, and books: $80.00
14. Charitable contributions and religious donations: $0.00
15. Insurance.
15a. Life insurance: $0.00
15b. Health insurance: $214.00
15c. Vehicle insurance: $263.00
15d. Other insurance: $0.00
16. Taxes: $0.00
17. Installment or lease payments:
17a. Car payments for Vehicle 1: $494.00
18-20: $0.00
21. Other:
IRS payment: $240.00
Utah tax payment: $92.00
Student loan payment: $54.00
Newspaper: 20.00
22. Your monthly expenses: $3719.00
23. Calculate your monthly net income.
23a. Copy line 12 (your combined monthly income) from Schedule I: $3719.44
23b. Copy your monthly expenses from line 22 above: 3,719.00
23c. Monthly net income: $0.44
24. Do you expect an increase or decrease in your expenses within the year after you file this form? Yes - TMJ disorder will require new treatment that is not covered by insurance
Does these expenses look reasonable? They're 99% accurate, although he did 'tweak' a few categories for me. I have several chronic health issues, and there's absolutely no way I'd be able to swing chapter 13 payments for five years. My expenses/income are way too unpredictable. I should probably just listen to my attorney, he's the most experienced CH7 attorney in Utah, but the thought of the UST objecting to my expenses is causing me some sleepless nights.
The basics:
State: Utah
Household size: 1, no dependents
Median Income: $50,070
My annualized currently monthly income: $56,174.28
Priority debts (IRS and Utah State Taxes): $14,320.00
Unsecured debt: $68,000
Secured debt: $26,000 (reaffirming)
Assets: Nothing non-exempt. $13 to my name until next paycheck!
Here's the schedule J my attorney prepared today:
4. Rent: $650.00
4b. Renter's Insurance: $30.00
4c. Home upkeep expenses: $35.00
Utilities:
6a. Electricity, heat, natural gas: $65.00
6b. Water, sewer, garbage collection: $0.00
6c. Telephone, cell phone, Internet, satellite, and cable services: $85.00
6d. Other. Specify: Internet and Cable: $112.00
7. Food and housekeeping supplies: $350.00
8. Childcare and children’s education costs: $0.00
9. Clothing, laundry, and dry cleaning: $100.00
10. Personal care products and services: $50.00
11. Medical and dental expenses: $408.00
12. Transportation. Include gas, maintenance, bus or train fare: $377.00
13. Entertainment, clubs, recreation, newspapers, magazines, and books: $80.00
14. Charitable contributions and religious donations: $0.00
15. Insurance.
15a. Life insurance: $0.00
15b. Health insurance: $214.00
15c. Vehicle insurance: $263.00
15d. Other insurance: $0.00
16. Taxes: $0.00
17. Installment or lease payments:
17a. Car payments for Vehicle 1: $494.00
18-20: $0.00
21. Other:
IRS payment: $240.00
Utah tax payment: $92.00
Student loan payment: $54.00
Newspaper: 20.00
22. Your monthly expenses: $3719.00
23. Calculate your monthly net income.
23a. Copy line 12 (your combined monthly income) from Schedule I: $3719.44
23b. Copy your monthly expenses from line 22 above: 3,719.00
23c. Monthly net income: $0.44
24. Do you expect an increase or decrease in your expenses within the year after you file this form? Yes - TMJ disorder will require new treatment that is not covered by insurance
Does these expenses look reasonable? They're 99% accurate, although he did 'tweak' a few categories for me. I have several chronic health issues, and there's absolutely no way I'd be able to swing chapter 13 payments for five years. My expenses/income are way too unpredictable. I should probably just listen to my attorney, he's the most experienced CH7 attorney in Utah, but the thought of the UST objecting to my expenses is causing me some sleepless nights.
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