Will a 7 go through if you have money left over?

[aces67]

This is something I'm not understanding. We are below the median income and our bills are more than dh makes every month. Our lawyer said we should let dh's vehicle go back now that way the finance company can't come after us for the negative equity and we'd be better off financially after the discharge. If we do this we will have money left over at the end of the month even though we are still below the median income.

I saw where another lady posted on here that she couldn't file a 7 b/c she was below the median but had money left over at the end of the month. My lawyer said all that mattered was being below the median. He says this should all work out just fine.

He is right isn't he?

[StartingOver08]

Have you filed yet?

If you have already filed, then surrendering your vehicle is the right thing to do.

If you have not filed yet, do your expenses exceed your income without the truck payment?

[aces67]

We've already filed but without the truck payment our expenses are lower than our income

Edited to Add: Should we just keep the truck instead that way our expenses are more than our income?

[StartingOver08]

No - since you have filed, surrender the truck! The lookback period is the 6 full months before the filing date! Your attorney is right.

[aces67]

So he's right that it will go through with money left over? I'm so stressed out over this whole thing

[StartingOver08]

You didn't have money left over on the filing date. That is the date that counts.

You are going thru this process to get rid of the debt - so surrendering the vehicle is the right thing to do! Take advantage of your fresh start!

[aces67]

OKay I got you now. I'm overthinking things.