Is this Disposable income?

[Blue_Ray]

Disposable income?

What is this really? Is disposable income also include fuel for cars / autos, food for family and clothing per month?

How about service and repairs? Like car problems or home repairs that needed to be taken care of, which I could not do due to too many credit cards I have been paying on?

The reason why I ask this now is because I figure that we make / take home after taxes is about $2800.00 take home / after taxes.

We have our regular bills / secure debt:
Per month:

Family of 5
Home 1300.00
Cars loan 500.00
2nd mortgage 300.00

Auto insurance 110.00
Electricity 150.00 (usually lower in the winter / higher in the summer)
Gas / energy 40.00 (usually higher in winter)
Phone service 55.00
Cell phones 65.00
Water / waste 70.00
Cable TV 40.00

Total = 2630.00

Now, we have not included gas for the cars, groceries for the family, clothing or school supplies or home/auto repairs.
Would these I mention above makes it safe that we can file for chpt7?

I really just need to make sure we are eligible to file for chpt 7.

As others said, I am loosing my hair, to much strees.

[Blue_Ray]

.........................
...............................Oh also forgot to mention. In the past my lovely parents took care of our children since we were both working (not chanrging us, luv you mom). Even if we have that xtra fund of about $300.00 left over (xtra cash flow) for all our total expense, the day care cost is roughly about $600.00 a month for 2 children and that is not including after school care (daughter in Elementary school). So should I even worry?

Thanks for any input.
Ray-ray

[lrprn]

What is this really? Is disposable income also include fuel for cars / autos, food for family and clothing per month?

No. Each of these is accounted for on a line in your bk form Schedules. Disposable income is what is left over (if anything) after you've paid everything allowed on your forms plus what your trustee allows. There's variability between trustees on what's allowed and how much - that's why talking to a lawyer familiar with what the customs are in your bk district is important.

How about service and repairs? Like car problems or home repairs that needed to be taken care of, which I could not do due to too many credit cards I have been paying on?

This is why when it's not an emergency to file, it's best to stop paying on your cc's and use that money to catch up on necessities like car and home repair, medical care, clothes, pay your lawyer, etc *before* you file.

Would these I mention above makes it safe that we can file for chpt7?

What matters is how much your income for the last six months is compared to your secured loans for assets and living expenses on the required Means Test. To file you need to include everything you would reasonably spend for living on your forms, including gas, groceries, school lunches, etc. See http://www.ca-bankruptcy-attorneys.c...alculator.html for a good overall list of living expenses to make sure you haven't overlooked any. Be sure to include non-monthly expenses like home assn fees, annual car expenses, etc.

Have you made any free consultation appointments with 3-4 bk lawyers yet? You will get a good idea of whether you can file Ch 7 or not after speaking to several experienced bk lawyers in your area.

[Blue_Ray]

Ok that is good to know. I only talked w/ one, which all she does is specialize in chpt7. I called another lawyer and he seemed like a twat and didnt care what I had to say, plus his services/fees were outrageous.

So, I will sticking w/ my guns on the lady attorney that only specializes in chpt 7 is the one I will be going with.

[Blue_Ray]

What matters is how much your income for the last six months is compared to your secured loans for assets and living expenses on the required Means Test. To file you need to include everything you would reasonably spend for living on your forms, including gas, groceries, school lunches, etc. See http://www.ca-bankruptcy-attorneys.c...alculator.html for a good overall list of living expenses to make sure you haven't overlooked any. Be sure to include non-monthly expenses like home assn fees, annual car expenses, etc.

See this is where its messed up.

Wife is going to be loosing her job @ the end of JULY. She will be getting a severance check, but will be unemployed for god knows how long.
Her severance is only going to pay about 2.5 months worth of income. I am thinking once this is done, she can get a job, but her pay will be at least $5.00 less pay-cut where ever she applies or goes to work for. I do know that we will be under the income level to file. I just need to make the proper steps before filing, oh my head hurts.

[twuoo]

Would it raise flags to tell the cc companies that you're going to file, so that the phone calls stop, but then not file for 6 or more months later? Or is it better to just wait until filing for sure and just accept the annoying phone calls.

The calls just started for me. I get about 8 or more a day, all day long. They're all automated, so it's no sweat off their backs.

Thanks