income verses expenses

[justplaintired]

ok now i have a question regarding expenses verses income. When figuring expenses is that taken out of net or gross income? Because when I figure my net income and my expenses, I don't have any money left over. When I figure it on gross which ofcourse doesn't take out for taxes or insurance.... I have money left over. Which does the trustee figure this on to see if your over or under the disposable income.

I know this seems like a dumb question, but now I am freaking out because when I figure this up, I have disposable income over what is consider the right amount for C7 based on my gross income. By net sometimes I may not even have enough money for all my expenses. How in the world do the trustees figure this out? By bank statements which shows actual income from month to month. I have all my bank statements, which I sent to the attorney.

I am sorry if this question is somewhere on here, and I am sure it is. Also sorry for being such a freak about this whole income thing. Like I posted in some past posting, sometimes I over think things way too much.

[Teddy]

It is your net income. You shouldn't have any money left over, if so, it should be very little so they don't think you have enough left over to file C13.

It sounds to me like you are doing it right. I think that sometimes it can be likely that you don't even have enough money for the month.

Don't use your gross income, use NET.

I think you are doing exactly like I did - over-thinking! I had said it here too and someone said I was

Just list your expenses as close as you can and I think you should be fine. I don't see how anything could be too far out of line for you based on your income/family size.

Do you have something specific you have a ? on?

Say for instance, clothes...right now you probably cannot afford a lot of clothes, they want to know how you will spend your money once you are out from under your bk debts.

I put $100 on mine for clothes. That is probably a low figure, but it's what I think/plan on spending on clothes when I do have that cash in my bank account. Does that make sense?

[justplaintired]

Yeah Teddy it does make sense. I just found a link to standard expenses for a family of four on an old sticky. It allowed for 1370 for food, housekeeping, apparel, personal care and misc. I figured way under that amount, way under!!! So if those are still the standard expenses, then I do need to do some refiguring. I allowed $40 for apparel with 2 boys at that teenage stage! That isn't even one shirt at a real store! LOL Ofcourse we are goodwill shoppers, but they are starting to want more of the "in" clothes.

Teddy, you have been a great help, I can't thank you enough. I will calling my attorney in the morning and telling them I want to sent in a new expense list. Mine was just not enough to really live on, I left out things, and that was a mistake.