expenses- question-estimated expenses

[dumbpig]

Can you put estimated costs in your monthly expenses. I know I spend around 1000 a year repairing my car. From brakes/tires/engine issues. I currently need to put 500-1000 into at this time. I currenty am unable to purchase a new car. Are estimated expenses alllowed when figuring expense. I also have a standard copay of 20 dollars a doctors vist. I make around 7-10 a year plus we have a deductible of 250 dollars. I have to pay the first 250 dollars of my yearly medical costs? Can I estimate for this. This expense thing is very confusing. I like to know my stuff before I walk into the lawyer tomorrow. I am quite nervous.

[HHM]

If your fairly certain about expenses, but they occur irregularly, like car repairs. you average the expense over 12 months. So if you spend $1000 per year on car repairs, then you could list 84.00 per month.

But generally, your expense list is a snap shot of your expenses at the time you file BK.

[chucko]

That's what I'm confused about, how to determine expenses.

I estimated my expenses other than the ones that were fixed every month. I am not sure I can prove that I spend $9/month of over the counter meds, but in the winter I spend a lot of money on cold medicine.

Also, how does the trustee see what you've spent money on? Most of the time I'll hit the ATM for $60-$100 and use that cash for various necessary living expenses. How do I prove that?

This whole list expense thing is so confusing. I am seeing a lawyer tomorrow afternoon so I wanted to be prepared with a list of expenses and such.

[edwards2]

The expense "thing" is confusing. There is an expense calculator on this forum and IRS has one as well. Just be sure and write down ALL your expenses. We could not corroborate every expense either. My husband takes 4-5 meds a month but sometimes we buy over the counter drugs and we didnt keep receipts for those. The difference is our circumstances. My husband has a condition and takes meds every month but we didnt have receipts for every month. We also did not have receipts for entertainment or home repairs. We were able to explain why and you will be able to as well. Remember they are looking for BK fraud and assets to distribute. If you are honest and can justify your expenses you will be okay. Good luck.