Means Test Question

[teacher]

If you are under the median income for the 6 month previous period, is that the end of it? Does everything else still get closely examined?

I may be under it at the end of may by a very, very small amount. Will that get me through?

[browneyes]

From what I have read, being under the median is good for qualifying, but they also look ahead and see if you have enough residual income to support a chapter 13. You can be over the median and still qualify for a 7 if you have negative residual, but you may be under scrutiny of the US Atty.

I am sure someone else will chime in here.

[jribe]

If you are under the median income for the 6 month previous period, is that the end of it? Does everything else still get closely examined?

I may be under it at the end of may by a very, very small amount. Will that get me through?

It's all speculative... For most people, it seems if they are under the income - they don't get examined too closely.

However- being under median doesn't automatically qualify you for a chap 7 if that was what you're asking?

You still need to qualify with your expenses...

No one can say for sure if you will get closely examined or not. Sometimes a case is just audited.

If you have any more specific questions to be answered, just ask!

good luck

[teacher]

Well, right now, I am over the median by around 100......the paralegal then I had to quality through expenses, and I was under by 242 or so. Some of that income was from a part time job I don't have anymore. I figured out my new 6 month average based on the end of May, and if the median income goes up just a little like she thinks it will, I will be under that.

As far as bills, they are pretty normal. Rent, car payment, car insurance, food, gas, etc. I'm not cashing out hugely or anything.

[eddiep]

Have you taken the means test yet? If you are under median and pass the means test you will be fine. I have the same problem and I guess I must be a little slow because for the life of me I can't figure out where to put all my expenses on the means test. But I have noticed on the means test they add in lawyer and administration fees to your expenses. That helps me pass the means test, I think

[teacher]

Have you taken the means test yet? If you are under median and pass the means test you will be fine. I have the same problem and I guess I must be a little slow because for the life of me I can't figure out where to put all my expenses on the means test. But I have noticed on the means test they add in lawyer and administration fees to your expenses. That helps me pass the means test, I think

I have played with it for the past hour. My biggest problem is that I get my "summer pay" 4 days in a row in the beginning of June. Imagine getting 2 months worth of pay in 4 days....nice, right? Unfortunately, that throws me out of the ballpark of the median income.

The good news is that since I don't receive any pay after that for the rest of the summer, it looks like I would be below the median income for the month of July and should be able to file in August.

[teacher]

Also, some people mentioned lowering my deductibles and adding coverage for car insurance, but I don't see anywhere in the means test where car insurance is even mentioned.

[eddiep]

Oh don't you hate this waiting game!?

could you file in May or June? that would give you the range of Dec - April or Jan - May.

[jribe]

Also, some people mentioned lowering my deductibles and adding coverage for car insurance, but I don't see anywhere in the means test where car insurance is even mentioned.

the "means test" is a quick qualifier. However, when you fill out your schedules, there are more things to add. If you pick up the Chap 7 book by Nolo a lot of this will be in there.. It also has all the forms.

The means test is just something to give people a rough idea if they will qualify based on what is asked.

Sometimes, people will pass the means test; but have to file a Chap 13 because they still have too much disposable income after their expenses.

I would consider looking over the schedules and see where you're at.

August isn't too bad to wait till. That's probably when i'll be filing as well.

Good luck!

[teacher]

From what I've been told, it is 6 months. So filing in June would take into account Dec-May, filing in July would take January-June.

[teacher]

the "means test" is a quick qualifier. However, when you fill out your schedules, there are more things to add. If you pick up the Chap 7 book by Nolo a lot of this will be in there.. It also has all the forms.

The means test is just something to give people a rough idea if they will qualify based on what is asked.

Sometimes, people will pass the means test; but have to file a Chap 13 because they still have too much disposable income after their expenses.

I would consider looking over the schedules and see where you're at.

August isn't too bad to wait till. That's probably when i'll be filing as well.

Good luck!

Thanks! I've already paid my lawyer $2000 to worry about this stuff for me....but I'm not getting the answers I want.

The biggest one that bugs me is that she said I can only claim 1 vehicle because I am single. I actually own 2, one is paid off and the other is not. I let my mom drive the paid off one.

The means test I found online doesn't say that I can't claim 2...any ideas?

I really hope I don't have to file ch 13....

[LuciluS]

Also, some people mentioned lowering my deductibles and adding coverage for car insurance, but I don't see anywhere in the means test where car insurance is even mentioned.

I don't know what means test you are using, but Car Insurance is a Valid monthly expense. If you pay it every 6 mths..divide it by 6 to get your monthly expense. You pay it every year, divide it by 12.

The packet we received from our Attorney also requests a copy of each vehicle's insurance along with our homeowner's policy. I believe our Attorney is overly cautious as I had to go back and list every CC Card, date it was opened, charges made over $600 dollars & all Balance Transfers. It took me over 2 weeks to go through them. The good thing is if Trustee wants CC Statements I've got every one from date CC was opened.

Surely if you are under the Median, you can come up with a negative DMI.
Here is a link I think from dingdong. It is a California expense calculator. Hope it helps you find some addtl expenses.

http://www.goainc.com/fraley/calculators/expense_calculator.html

Luci

[teacher]

I was using the one at legalconsumer.com

I don't remember her putting in how much I paid on car insurance, furniture payments, or even counting both cars as expenses.....maybe I need to send an e-mail.

[eddiep]

oops sorry, apparently I am a little slow
but if you file in June, the income you recieve will not be included, I guess that was my point. Sorry

[teacher]

oops sorry, apparently I am a little slow
but if you file in June, the income you recieve will not be included, I guess that was my point. Sorry

No Worries. You are right, but at that point, if the median doesn't change, I'm still like......30 dollars over or something, haha.