Will i pass the " means test " ??

[RainMoM]

Hello everyone.. First I'd like to say that I've been here for about a week now.. and I've learned so much, thank you !! .. I want to file Chapter 7, I have gone over the Income part, and we seem to be ok there, for a family of four, Our main reason to file is to wipe out the debt of our house, along with some medical and two C.C. the house is about 190,200 and the C.C. & medical add up to be about 3,500.. My question is,,, Is that enough to file Chapter 7 ? any and all advice is welcome !!

[keepmine]

The means tests refers to your last 6 months income and not your debt load.
THe nearly $200K debt is plenty to file bk over but, it has nothing to do with means testing.

[dr618]

There is a great means test calculator online that you could use to get an idea of where you stand, it helped me understand my situation.

http://legalconsumer.com/

Just enter in your state and it should give you an idea. Hope that helps, good luck to you.

[lockedout]

There is a great means test calculator online that you could use to get an idea of where you stand, it helped me understand my situation.

http://legalconsumer.com/

Just enter in your state and it should give you an idea. Hope that helps, good luck to you.

Wow, that is a great tool. Thanks for posting it.

[optimistic1]

Hello everyone.. First I'd like to say that I've been here for about a week now.. and I've learned so much, thank you !! .. I want to file Chapter 7, I have gone over the Income part, and we seem to be ok there, for a family of four, Our main reason to file is to wipe out the debt of our house, along with some medical and two C.C. the house is about 190,200 and the C.C. & medical add up to be about 3,500.. My question is,,, Is that enough to file Chapter 7 ? any and all advice is welcome !!

Make sure you hire a reputable attorney that is very familiar with BK 7 cases, and that is also familiar with how the trustee's view the totality of circumstances. What that means is, just because you are under the median income, does not necessarily mean you can file a 7 scotch free, some trustees will look at your itemized expenses to determine if you could fund a Chapter 13 BK.

[RainMoM]

Thanks everyone I have my first meeting with an attorney in March, From what i understand, hes been doing this for 17 years.. but heck, that really doesn't mean hes good.. I will keep you all posted as to how it all goes. My main concern is keeping both our cars !! I truly hope we can.. I live in metro Orlando, Fl area.. are we allowed to use carmax to determine the value.. by the way, who does decide what your car is worth, Your attorney or the Trustee ?