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  • Bre26
    started a topic Questions...please help!

    Questions...please help!

    So, i spoke to an attorney today. Much to my surprise, my husband and I are over the median income by about 5,000. I am the only one who is filing and am nowhere near the median income, but unfortunately it doesn't matter. I am terrified to file ch 13 because i won't be able to afford the payments. I am currently about 44k in cc debt. Does anyone know how much my payments will be? I feel stupid asking the next question, but my husband has a car payment...they can't touch the car if he doesn't file, correct? I am new to this and am trying to weigh my options. I thought i would be free and clear to file ch 7...now i am even more of a wreck than i was before. Does anyone think i still have a shot at ch 7? Thanks in advance

  • LadyInTheRed
    replied
    Originally posted by bbeagle View Post

    The whole POINT of a chapter 13 is that you CAN afford the payments.
    Assuming you have a decent attorney, unlike the one who told you that you can't file a Chap 7 solely based on your income being over the median without running the means test.

    Consult with another attorney. Also, try searching the internet for "means test calculator". The tool well help determine if you pass the means test. If you don't find it, post again and I will find a link when I am on a different device than I am now. The means test is tricky, so don't rely on the calculator completely. You need an attorney to determine for sure whether you can get a Chap 7 discharge. If you can't, don't be afraid of a Chap 13.

    Leave a comment:


  • bbeagle
    replied
    Originally posted by Bre26 View Post
    I am terrified to file ch 13 because i won't be able to afford the payments.
    The whole POINT of a chapter 13 is that you CAN afford the payments.

    Chapter 13 allows you to pay for food, clothing, mortgage/rent, taxes, car/gas, and other misc. You will never be able to NOT afford the payment. Your payment should be less than your credit card minimum payments. You're filing because you can't afford them, right? You'll be in better shape during Chapter 13.

    Me and my wife are currently in Chapter 13. We feel so much relief. We weren't able to make minimum payments - moving balances from one credit card to another every month. We couldn't afford any new clothes for the past 5 years, barely able to afford to eat, never went out to eat, never went to the movies, never travelled. We're MUCH better off now inside our Chapter 13. We can actually afford new clothes or going to an Olive Garden twice a month.

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  • Bre26
    replied
    I haven't completed the means test yet. I actually spoke to an attorney for the 1st time today. Thanks for your help..i will definitely be happy to take the means test...there is not much left over, believe me

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  • despritfreya
    replied
    So you are over median. Did anyone actually complete the means test for you? Being over median does not mean you can't do a 7. It means you have to complete the entire test which subtracts out "allowed" expenses. You need to known what your "monthly disposable income" is - what is left over after completing the test.

    Des.

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