question on means test

[pambysue]

I was completing the practice means test

http://www.legalconsumer.com/bankruptcy/bankruptcy-means-test.php

I fell under the median income to file ch 7, but wanted to complete the remainder of the test to determine if it showed any disposable income. My question is, for the section asking for the amount due to 'cure' the default on a secured claim, would I be allowed to enter the amount for my home that I am surrendering (already in foreclosure process)? The summons I received has a total amount owed as $85,000. I also owe $9500 in property taxes. Although I have moved out of the house as of November 2006, the property is still in my name (the sale hasn't been held..and it may be quite a while as I live in NY state). What amounts would I put in the 'cure amount' boxes? If I wanted to keep my house (which I don't as I cannot afford it any longer) I would have to pay the entire amount. Wouldnt that be the 'cure' amount? And where would the back property taxes be claimed?
This is all so very confusing. I appreciate any insight!!

[Naive-n-Texas]

You are brave to even attempt the the test. I down loaded it this morning, took one look at it and ran. I have a hard time understanding the terms used. Like your question, what is disposable income? Do they have a "For Dummies" book on this stuff?
I guess I really don't understand this means test anyway. If the states idea of an anual income for a family of four is $57k and hubby's income is $55k, do we qualify for ch.7? What about extra duty jobs that may or may not be available per month? Is that disposable income?
I'm sorry. I didn't mean to take away from your questions. Just seems to me, if you make "x" amount of money and you owe "x" amount of money and can not pay it back because you are way over your head, your Bkupt!
How did you lose your home?

[SinkingFast]

Since your income is below the Median, you don't even need to go there on the Means Test. Your disposable income will be determined by a comparison of Schedule I with Schedule J.

But since you're wanting to do this as an exercise,........... You would be allowed to enter your payments, if you owe more than 5 more years on your note. There has been a New Law BK Opinion rendered that allows Debtor/Filers to claim contractually due payments even when they are surrendering the property securing the loan.

Here's a link to the thread where Anon posted about the Decision:

http://www.bankruptcyforum.com/showthread.php?t=8093