mean test -marginal pass

[borderline]

interesting site I discovered tonight -
CH7 Question-live in IN, married filing just myself (wife already discharged 4 months ago). make about 101k gross. took a means test a couple nights ago and said I passed marginally. One BK lawyer said no I'd never pass the test, one said i'd probably not pass but would run the test for $100, and one said I would probably be ok and is willing to take me for a whopping $3000.

How do I understand whether the figures I entered into the means test will not be over some standard or limit?
I have a 2nd house in FL - which is in foreclosure process, where I am about 16k behind in payments. Also, Credit card debt of 19k.

2 main questions - 1 lawyer said I could not claim this 2nd house as a monthly debt since I am not planning on reaffirming. This doesn't seem right since if I don't qualify I will be thousands of dollars negative in my Disposable Income and unable to pay this 19k debt anytime soon.

final question - I sold a van for $6500 to get cash for BK lawyer last week. I did buy one that I am paying $400/ month several weeks ago. Can I buy 429B accounts for my kids with this leftover money since these types of accounts are exempt? I plan on filing in a couple weeks.

[JRScott]

It is unlikely you could use the 2nd house expenditures on a means test or expense sheet.

I mean you can protect your primary residence and include those expeditures. However for a chapter 7 a trustee would view two residences as excessive and challenge it.

The best place to look for what expenditures are allowed in your area would be to look at some BK cases in your district on PACER but keep in mind its 8 cents a page viewed so be careful.

[santadawg]

JR-on pacer what would type in to check out some cases, so you don't get lost and run up the bill.

[JRScott]

That's the hard thing San, you kinda need to know someone that has filed. Now if your paper lists those who filed or a paper in a neighboring town it can provide you with a name to look up and you can see how their case is going as far as expeditures and stuff

If you do just a random name search, use an uncommon name to limit hits though your run the danger of getting none

[borderline]

Ok, what about my 429B question? Is it considered fraud if I buy a 429b educational accounts for my kids (which is exempt, similar to a 401k) 1 week prior to my filing?

Also, I found some information out on the US Trustee Program-Dept of Justice site which provides IRS espense standards and it gave me limit amount that I can file as a family of 5. I assume that I can use these matrix's to understand my max limits, for instance food for a family of 5 who makes over 5834/mo, I can claim up to $1084/mo. I have struggled to get my exact avg food per month. Is there any risk in just claiming this amount? Again, I am marginally passing my means test, and I want to get my maximums to help me qualify.

[epiphany]

Don't know the answer to your education question but yes, you can safely use the max food allowance for your district. It is anything above and beyond that that you would need to justify.

ep

[keepmine]

Looks like In. has some time constraints on contributing to education plans.

http://www.bankruptcyaction.com/inexemptions.htm

Education Funds exempt from seizure:

Funds placed in an educational retirement account or qualified State tuition programs at least 365 days prior to a bankruptcy filing, within the limits established by the Internal Revenue Code, and for the benefit of a child or grandchild of the debtor, are excluded from the debtor's estate, with a $5,000 limit on funds contributed between one and two years before the filing.

[borderline]

Where do I find all of the max allowances for my specific district?

[JRScott]

If you go to your districts website, there should be a link that leads you to the information you need on the means test.