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How to come up with Schedule J amounts?

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    How to come up with Schedule J amounts?

    In the means test it shows you your allowed exemptions, but I'm assuming those exemption amounts are not the same amount to use in your schedule J, or is it?

    Like my grocery budget is about $750 a month, but on the means test I'm allowed $1370 exemption for groceries, personal care items, clothing, etc. I usually spend about $150 a mo. or so on clothes (this is throughout the year, I have a 3 y.o and a 1 y.o who fly through clothes). Is that just what I use then?

    Looking at the schedule online it doesn't even seem like there are enough places to put things!

    I pay $625 a month for babysitting, $125 for preschool, what about things like internet (or would cable/internet go under entertainment?)? Car repairs?

    Looking at the form now we will have a ton of disposeable income, but our after BK budget (in which we are NOT living lavishly, our only "extra" is cable/internet) we have like $500 left over at the end of the month (this is not including clothing) where we can finally save something so we don't have to put things on credit cards!
    Last edited by ecsclb1724; 07-17-2009, 03:46 PM.
    Filed Pro Se- 12/15/2009
    341- 2/17/2010
    DISCHARGED- 3/18/2010

    #2
    there is a place for "other" on these schedules for expenses that don't fit elsewhere.
    filed ch7 May 09
    341 june 09
    discharged, closed Aug 09

    Comment


      #3
      how do you average out things like car repairs? Like this last month we paid approx $900 in car expenses (just reiterated to us how much we need to file! we've stopped paying our cards and we would have either had no money for repairs, or would have had to charge the repairs if we'd been paying).

      I was thinking of filing prose, but I'm tilting the other way now.
      Filed Pro Se- 12/15/2009
      341- 2/17/2010
      DISCHARGED- 3/18/2010

      Comment


        #4
        maybe you can take the total repairs over, say, the last 6 months and divide the total by 6.
        filed ch7 May 09
        341 june 09
        discharged, closed Aug 09

        Comment


          #5
          Originally posted by music12 View Post
          maybe you can take the total repairs over, say, the last 6 months and divide the total by 6.
          Yeah that is right. Your suppose to kind of figure out a years average car repairs and then divide it by 12 months. Don't forget, tires, oil changes, and those unexpected things no one plans on. Registration, insurance payments.
          Filed Chapter 7 June 4 ~ 341 July 20 ~Last day of objections Sept 18~Discharged/Closed Sept 21

          Comment

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