Really confused. Can you guys help me figure this out?

[hopeforus]

and we are definitely retaining an attorney. hubby will be looking this week. I just get nervous with making sure we have no money on filing day. Is it good enough to just take the money out in cash? I'm sure we could just spend it all on diapers and stuff though. Make an extra payment on our rent??? Could we do that?

[hopeforus]

huh? Well if I take 30k and divide it by 6 I get 5k and I get 5k still if I multiply 30k by 2 and then divide by 12.

I'm confuzzled.

And we had no other income. Not even benefits since the military kept paying us when they weren't supposed to and it looked like we had income. yay. blah.

[hopeforus]

on the mean calculator page it says to divide by 6... is this not an official calculator?

[Tbornetun]

Actually the average monthly income for the Means Test is calculated by adding up all sources of income (not just your paycheck) you received during the last six calendar months before filing bankruptcy, multiplying that figure by 2, then dividing the figure you get by 12. (Keep in mind....the government and your creditors were both involved writing the latest bk law that mandates this goofy method :/)

Here's an example - during the last six calendar months before they filed, Mr A and his wife had a total gross income from all sources of $20,000. Divide 20,000 by 6 = 3333. Multiply 3333 by 12 = 39,996. Divide 39,666 by 12 = $3305.50 ($27.50 less than the couple actually makes). That's the figure that gets plugged into the CMI income slot on the Means Test.

Here's a good discussion of how this CMI calculation method can penalize those whose income varies considerably month by month - http://www.************************/...fail-the-next/

You are referencing a calculation from an article regarding seasonal employment, the example given is a teacher since they only work 9 months per year.

Your calculations are also off:
Divide 20,000 by 6 = 3333. Multiply 3333 by 12 = 39,996. Divide 39,666 by 12 = $3305.50

If you multiply 3333 by 12 and then divide the answer by 12 you end up with the same number 3333.

Divide 20,000 by 6 = 3333. Multiply 3333 by 12 = 40,000. Divide 40,000 by 12 = $3333

For the means test, it states right on the form, you will add your actual income for the previous six months and divide it by 6 to get your monthly.
This is the method the US Trustee also uses when calculating the average income. 6 prior months, from all income sources.

[Tbornetun]

on the mean calculator page it says to divide by 6... is this not an official calculator?

It is 6 months, you are fine. It states it right on the means test. Your calculations are correct.

[hopeforus]

ok i thought i was going nutters. although... that's not very debatable right now ;) I'll be much saner when I'm back with my husband again.

[Tbornetun]

I feel you. My husband just returned a month ago from being deployed in Afghanistan. It is great to be together again, you feel like half a person when you are apart...am I right?
Hang in there, life will continue to go on whether we want it to or not.

[hopeforus]

I feel you. My husband just returned a month ago from being deployed in Afghanistan. It is great to be together again, you feel like half a person when you are apart...am I right?
Hang in there, life will continue to go on whether we want it to or not.

Totally. My husband hasn't been deployed yet. But he's been to several 3mos schools. He's been in 3 different branches so new schools each time Our marriage has been through a whole lot in 10yrs and with 4 kids... one low functioning nonverbal 8yr old... it's just a lot of stress being apart. I sure could use my other half right now lol I'm glad your husband is home safe!