13 Payment Question

[TheStiker469]

I was wondering how the 13 payment is calculated. I understand the part of disposable income after expenses, but what income is used. Is the payment based off the income of the means test (last 6 months), or on the schedule I/J. The reason I ask is my income has reduced over the last 2 months by 25% and going to stay that way. Seeing if better to wait a full 6 months to get a lower average income -or- if my current income is used for the payment plan so I can file earlier and not have to wait. Either way I am in a 13 due to high income and not enough expense.

[justbroke]

It could be either the Means Test, Schedule I/J, or combination of both. For the most part the Means Test serves as a "starting point" to the inquiry as to your DMI. Since the Lanning decision, we now know that Chapter 13 Schedule I/J are "forward looking" so it should look to reality (not the past).

So based on the Lanning decision (from SCOTUS) you don't need to wait for income to fall out from the average. Hopefully you plan to file with an attorney since this would be a Chapter 13. You may want to start looking to interview around 3-5 local attorneys to see what they think about your case and its potential.