What do you think...

[25andbroke]

to the OP:

Please keep in mind that the 14k comission check may not be counted as "income" for your six months, since you'll receive it after you file..

BUT.. You will HAVE to cover it with exemptions. Or the trustee will gladly take it.

Just because you have already filed- does not mean that you can receive large paychecks/comissions and expect to keep them.

I'm in CA- so i don't know the exemptions for NY - but please find some to cover that! I've worked in sales, and i understand how tough it can be..

And expensive housing! lol. California and New York are right up there!

Good luck

I'm going to buy an engagement ring a new bed and get ahead on my car payment. That should do it.

[jribe]

NY state median is $45,525 for a single. I thought the look back for income is 6 months before your file date and not based on future earnings? Could be wrong? Is the OP legally ok to file before he recieves a commission check?

to the OP:

Please keep in mind that the 14k comission check may not be counted as "income" for your six months, since you'll receive it after you file..

BUT.. You will HAVE to cover it with exemptions. Or the trustee will gladly take it.

Just because you have already filed- does not mean that you can receive large paychecks/comissions and expect to keep them.

I'm in CA- so i don't know the exemptions for NY - but please find some to cover that! I've worked in sales, and i understand how tough it can be..

And expensive housing! lol. California and New York are right up there!

Good luck

[DustinLH00]

So your income was over the median and you had -$175 on the means test? How did you get it to be negative? I am barely over the median and cant get the means test to be negative even though I have a $1200 mtg payment and $500 car payment. Again, just asking for comparison. Thanks!

-175 a month failed the means test.

[25andbroke]

-175 a month failed the means test.

[DustinLH00]

Did you file a Chapter 7? Can I ask what your disposable income ended up being? Im just looking for comparisons. Good luck!

Filed 6/11/09
341 7/22/09
Last day 9/22/09

[Naomi]

So, was that a yes?

I don't have any tobacco expenses so didn't know if that one would go through.

Good luck with everything.

[25andbroke]

Nothing really to add...just wondering about the $160/ month for tobacco.
Can people really use that as an expense?

Filed 6/11/09
341 7/22/09
Last day 9/22/09

[Naomi]

Nothing really to add...just wondering about the $160/ month for tobacco.
Can people really use that as an expense?

[Amy26]

Yea you never know... my attorney told me that the trustee in my district is very sympathetic to Northern Virginians due to the high cost of living here. I think Fairfax County is still the most expensive county in the country. And my attorney also started out by telling me we'll try for a 7 and worst case it gets pushed to a 13. But I definately don't think this guy's case is a slam dunk 7.

[pookieny]

If he retained a good lawyer and he thinks he can file chapt 7, then I think the attorney would know if he qualifies.

[pookieny]

He said he was in sales in Long Island not in Manhattan. Long Island is rural as well as suburban, so I would think he would need a car to get around.

[Amy26]

And yes you are correct about the chapter 7 calcs... but you are well over the median and you have 175 dollars left after the means test... if you get by without being pushed into a 13 then more power to you... but I think if you were much closer to the 23k median requirement then maybe it would look better.

And if you get that 14k before your bk is discharged... I think that would have to be reported.

[hopeforus]

And I think some of us are also just pointing out that since you are over the median by so much that you might be scrutinized more closely and you may find yourself handing over that 14k check.

[hopeforus]

If your income is higher than the state median, you must first complete a long list of expense deductions to estimate what your 'disposable income' will be over the next five years. The result of this calculation determines whether you can file for Chapter 7, or are stuck with Chapter 13 as your only option.

Yes, I understand this. I think what a few of us are getting at is that it sounds like you could easily pay your debt with your huge commission checks you are getting and avoid all of this. I wouldn't feel right about filing for 40k of credit debt when I have a car with a payment of over 500.00 a month (do you even drive in New York? Don't most people not drive? I have several friends there who don't even have cars for this reason. I don't care if you have a car I'm just curious really lol) and expect several 14k or more checks soon.

[25andbroke]

If your income is higher than the state median, you must first complete a long list of expense deductions to estimate what your 'disposable income' will be over the next five years. The result of this calculation determines whether you can file for Chapter 7, or are stuck with Chapter 13 as your only option.