I have read that if your expenses are too high, you might not get a approved plan.
On the same token, if your expenses are too low, the same result might occur.
How low is too low?
Because, most of my expenses are far below the IRS standards when I list them on schedule J.
I have read, that if they think you are too low, they might just outright say your spending too much on the car, why dont you just surrender it, or surrender the home because your payment is too high. I dont want to have to do either of those.
Based on my net income, we are taking home approx. $3300 a month.
I can list my expenses and come to a figure of about $3000 a month. Thus leaving $300 leftover.
All that would be on our plan in terms of priority debt, would be, about a $500 IRS bill, a car payment, (worth around $5500-$6000), the remaining amount of the lawyers fee, and the trustee's fee.
Based on those vague numbers given, do you think we could come to a confirmable plan?
I can list my expenses on another post, if you think that will help you answer my question.
Im curious, does the lawyer, work your monthly payment based on the priority debts, and adjust your schedule up or down, or do they try and maximize how much will be paid into the plan, If I had it my way, I would have 0% to unsecured, that is the mass majority of the debt.
On the same token, if your expenses are too low, the same result might occur.
How low is too low?
Because, most of my expenses are far below the IRS standards when I list them on schedule J.
I have read, that if they think you are too low, they might just outright say your spending too much on the car, why dont you just surrender it, or surrender the home because your payment is too high. I dont want to have to do either of those.
Based on my net income, we are taking home approx. $3300 a month.
I can list my expenses and come to a figure of about $3000 a month. Thus leaving $300 leftover.
All that would be on our plan in terms of priority debt, would be, about a $500 IRS bill, a car payment, (worth around $5500-$6000), the remaining amount of the lawyers fee, and the trustee's fee.
Based on those vague numbers given, do you think we could come to a confirmable plan?
I can list my expenses on another post, if you think that will help you answer my question.
Im curious, does the lawyer, work your monthly payment based on the priority debts, and adjust your schedule up or down, or do they try and maximize how much will be paid into the plan, If I had it my way, I would have 0% to unsecured, that is the mass majority of the debt.
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