New guy has questions ...

[supercrash]

I am looking at filing for 7 and need to know a few things about what can be included as a expense.

Can pets be an expense ? their food ? ...medical ? ..ect ?

And if I am pushed into 13 how does a 5 year payment plan work when I am recieving unemployment checks that will stop in 6 months ?

And if I am pushed into 13 and start defaulting when my checks stop, can I then file for 7 again ?

Thanks in advance.

[dingdong]

what state are you in and what is your income level and do you have dependents?

check out the state median income for BK and see if you are within that level

if you are on unemployment, and have been for awhile, you are most likely under median.

some filers have used pet expenses , kind of depends on your district and TT

[supercrash]

what state are you in and what is your income level and do you have dependents?

check out the state median income for BK and see if you are within that level

if you are on unemployment, and have been for awhile, you are most likely under median.

some filers have used pet expenses , kind of depends on your district and TT

I live in Illinois, and I can't understand how I could be pushed into a 5 year payment plan when I am getting checks that will soon stop.

My wife makes about $50,000 a year and we have no kids, but have 3 dogs that cost a pile of money

[dingdong]

Have you taken the means test at legalconsumer.com or the one written here by our member Debtstinks?

what were the results?

I hear ya on the pets, mine eat more than my kids!

[LuciluS]

Supercrash:

Here ya on the pet expenses. We have a 6 yr. old shih tzu who must take 2 prescription and eat prescription dog food. Expenses are around $175 a month. I emailed our Attorney regarding such. He basically said no go on the $175 a month expense, but Yes you are able to claim pet expenses. He didn't state how much though.

Have list of many, many questions and have appt. in middle of Aug. We will be filing on 9/30/09 in AR. So, yes you can claim pet expenses. How Much???....I'm clueless right now.

One suggested to get a Pacer account. Research discharged Ch. 7 cases in your District/State & formulate an monthly expense amount. I'm not familar with Pacer & afraid to set up acct. as I'm an internet 'Junkie' and reading is $.08 a page.

Don't rush Bankruptcy, please. We met with our Attorney last Sept. & stopped paying all but 1 CC in late Sept. early Oct. So Dh and I basically know how to live without CCs. Waiting for some monies to drop off from Feb. to be under our State, Arkansas, Median Income. Less scrutiny if under Median Income. Doesn't mean you will be discharged earlier, expenses not questioned, just less likely for 'Flags' to occur.

Our disposable income will be in or around ($350). Could possibly be denied to Reaffirm our mortgage because of net income in the negative. Estimated value of home & Principal Balance due are within $10,000. Our market area is increasing. By the time we file, we could have Equity..Ya just never know. I'm basing my figures on realtor dot com.

A lot of Income/Expense issues in a BK are also definded by District/State.
Our District has a website where you are able to 'View' cases requiring only an Opinion by Trustee. Google your city with Chapter 7 Bankruptcy to determine your District & research that District's website.

Here is DebtStink's Means Test. He is a member of this forum. I found his Means Test met our specific Needs rather than legalsconsumer dot com.

http://www.johnfire.com/meanstest/wizard.php

Luci

[supercrash]

I'm sorry, I have a million questions...

I can't find answers to. A local lawyer has done a means test and it appears I will be pushed to 13, I don't have the numbers just yet.

1. I want to know if I should wait 8 months till my unemployment checks stop and then run the means test again, I would qualify if they didn't count these checks as a dependable income. And if I do take that route, can I file as soon as I am dropped ? ..or do I need to wait 6 months because they are looking at income from the last 6 months ?

2. and..how often can I run a means test ? ..is there a limit ?

3. and...if I stop paying my mortgage today, and file in 8 months, can I still use my house as a expense ?

4. If I plan on filing in the next 10 months should I stop all payments to the house, cars and credit cards now ?

5. and if I DO file for 13 today ..can I still file for 7 in 10 months when my checks stop ?

[dingdong]

I can't find answers to. A local lawyer has done a means test and it appears I will be pushed to 13, I don't have the numbers just yet.

1. I want to know if I should wait 8 months till my unemployment checks stop and then run the means test again, I would qualify if they didn't count these checks as a dependable income. And if I do take that route, can I file as soon as I am dropped ? ..or do I need to wait 6 months because they are looking at income from the last 6 months ?You would most likely have to wait 6 months or until the income places you within means.

2. and..how often can I run a means test ? ..is there a limit ?You can do the free tests as often as you like, you could even tweak the test to reflect what your status would be w/o UI and get an idea of when you should file to qualify for a 7

3. and...if I stop paying my mortgage today, and file in 8 months, can I still use my house as a expense ? Depends on the district some allow sceduled/contracted debt to be used, some dont and then you would have to use your regions housing standards

4. If I plan on filing in the next 10 months should I stop all payments to the house, cars and credit cards now ?You should really talk to a lawyer, your car could re repo'd during that time frame w/o the protection of the stay, FC timelines vary by state and lender, so that is hard to judge and depends on if you need the mortgage payment for means test.

5. and if I DO file for 13 today ..can I still file for 7 in 10 months when my checks stop ?You may be able to convert, I have no experience with a 13, someone else will likely chime in

Hope that helps a little, go to a few free BK consults and get a better picture. An attorney would know what flies in your district.

[Tbornetun]

How much are you receiving for unemployment each month?

[supercrash]

How much are you receiving for unemployment each month?

about $1300.00 a month ..but it will run out, extensions and all in about 8 months.

How can they justify pushing me into a 5 year payment plan when this is the case with my income ?

[eddiep]

How long ago did you get laid off? If you were working in the past six months that could cause you to go over the median income level or fail the means test. If that is the case you would want to wait for your income to drop off. I had to wait for income to drop off too, I just projected my income to determine which month would be best for me to file.

Are you planning on letting the house and car go? You will need to be current on your secured debt if you file chapter 7 as there is no opportunity to get caught up.

This is where careful timing is important. If you can pass median and/or means test by multiplying your current monthly income and dividing by 6 you should wait until your "job" income is not included in your 6 month look back period.

[supercrash]

How long ago did you get laid off? If you were working in the past six months that could cause you to go over the median income level or fail the means test. If that is the case you would want to wait for your income to drop off. I had to wait for income to drop off too, I just projected my income to determine which month would be best for me to file.

Are you planning on letting the house and car go? You will need to be current on your secured debt if you file chapter 7 as there is no opportunity to get caught up.

This is where careful timing is important. If you can pass median and/or means test by multiplying your current monthly income and dividing by 6 you should wait until your "job" income is not included in your 6 month look back period.

I still have about 8 months of checks. I was just thinking of filing for 13, then defaulting on the idiotic payment plan and filing 7 when the checks stop. What kind of idiot would sign me up for a 5 year payment when my income stops in a few months ?

Or.. I might just wait and fly our financial plane straight into the ground creating a giant financial mess with far more debt than we have today. Just to make a point to the government, there plan has a flaw.

I could just tack on another $50,000 in debt and then get dropped from unemployment then ask... "can you hear me now?"

[eddiep]

I know this is a scary and frustrating process, and that you are anxious to get this over and done with but it does take time to get it right.

Are you still paying on your all your debt(cc, car and mortgage)?

[pcn]

I could just tack on another $50,000 in debt and then get dropped from unemployment then ask... "can you hear me now?"

If you run up cc's while you know you cant pay them back it is fraud. If you spend more than you should. hoping things will get better it is bad financial planning. I would talk to an attorney ASAP to get help
'planning" a bk. There are opportunities that you may have that you don't want to miss out on. You definitely don't want to look back on the eve of filing and see that you could have done better for you or your family, had you only known.

[music12]

another factor you may not be considering is that you might actually find a job even before those 8 months of unemployment checks end. then you would definitely be a 13... maybe better to file now when you have no firm job prospects?

[supercrash]

I know this is a scary and frustrating process, and that you are anxious to get this over and done with but it does take time to get it right.

Are you still paying on your all your debt(cc, car and mortgage)?

I know this is a scary and frustrating process, and that you are anxious to get this over and done with but it does take time to get it right.

Are you still paying on your all your debt(cc, car and mortgage)?

I am deciding on what to stop paying now.I am not late on anything, but plan on ending the mortgage, car, and CC payments, and then filing when my checks stop in about 8 months. I don't want to stop so soon that I get sued, but what to start saving money.


I guess I could go with a 13 payment plan and then default and file for 7 when my checks stop. Is that possible ?

My credit rating is 805 , yep, thats not a typo.

What steps would preserve my credit the best ?