annual income for chapter 7-

[nascarfan408]

i was told that you can only make 65,000 for a family of 4 in MI, but i hrd your debt -income ratio makes a difference. Our family will prob. be at 100,000 this year. i contacted a lawyer yesterday, waiting to hear back. I have 40,000 in unsecured debt,250,000 in secured(house, property,rv) I'm really not interested in Chapter 13 since its a 5 yr repayment plan and your paying back 50-70% maybe more. I filed a Chap 13 in 2000 but the laws were different then. I'm also startin to pre plan. I know they look at your paystubs for 6 mnths. Thinking that i might make too much, think i'm gna have to work less per week. I'm also current on everything. Wondering if i should stop paying on things now and save the cash. Any help and info would be great

[aces67]

What really matters is if you have disposable income left over at the end of the month. You can find that out by filling out your Schedules I and J.

[liz417]

I was 21k over median (for 2 people) and still qualified for a ch 7...it's all about your expenses. Plug your numbers in here and see what you get: www.legalconsumer.com

[nascarfan408]

thanks for info, i will check it out. still worried bout my income though. maybe after i figure my expenses it won't be so bad