Passed means test - amazing

[calgirl67]

Had our petition preparation meeting with our attorney yesterday and I thought we would NEVER pass the means test with our income at over $120k..

But pass we did and the calculations he used were amazing, I knew nothing about and is not written anywhere in a Nolo book.

I will write more later and give details...

[liz417]

Congrats on that....I am over the median too, but it's really ALL ABOUT YOUR EXPENSES...

Yeah for you

[biotechsolution]

Not to be a downer but remember the UST will be reviewing your petition since you over the mean and have a high debt amount.
Good luck and let us know what happens.

[aces67]

I have to agree. It's great that your attorney says you pass the means test but the UST can still disagree.

Good Luck!

[LimpDisc]

We are 14k over the median and the first question after the standard ones was about being over the median.

[calgirl67]

LIMPDISC: What was the question?

[calgirl67]

Not to be a downer but remember the UST will be reviewing your petition since you over the mean and have a high debt amount.
Good luck and let us know what happens.

UPDATE: We had our 341 a few wks ago, trustee didn't bat an eyelid at our high income and high credit card debt. Meeting took about 4 mins and yesterday we received our REPORT OF NO DISTRIBUTION from the UST.

Just want to reinforce that if you have a great attorney (yes they cost a lot more than the mill ones) and he knows his stuff you will be fine.

If your expenses, means test calculations and income are all reported and calculated correctly they have no reason to object. Its when you have a useless attorney who didn;t even fill out the forms himself.. you have reason to be worried.

You definitely get what you pay for.

[screentest]

Calgirl,


Couldn't agree more. I am also over the median but show enough legitimate expenses to compensate. I also hired a more expensive attorney and I am hoping it was worth it. I just want this to go smoothly and get this all behind me.

Another meeting to discuss final numbers tomorrow.


ST

[MarieT]

Just curious...what is considererd "a more expensive attorney"? Mine will be about $4,000...

Also...we are definitely over the means test too and I am wondering if you passed due to a high house payment? Ours was much higher but I got a home loan modification a couple of months ago so it has been reduced by almost $1,000 a month which will now probably really hurt me for trying to pass the means test.

[screentest]

The law firm I hired actually has two partners who both handle each case.

Each meeting I have had has included both partners. I paid approximatley $4000 for this legal team and from what I have been reading I beleive this is high-end in fees anyway.

ST

[MarieT]

Well that makes me feel better. I had actually paid another attorney a downpayment and ended up walking away from that one when I realized I just did not have agood feeling about that person.

[MarieT]

Congrats on that....I am over the median too, but it's really ALL ABOUT YOUR EXPENSES...

Yeah for you

I keep reading on here that it is all about your expenses (we are over median about $21K) but I thought you were only allowed so much for expenses depending on where you live and how many in your household????

[NeedOptions]

I keep reading on here that it is all about your expenses (we are over median about $21K) but I thought you were only allowed so much for expenses depending on where you live and how many in your household????

I too would like to know this answer. I thought that the Gov sets the rates for certain expenses?

[calgirl67]

We paid $3890 for our attorney, including filing fees. Some of the "mill" ones were in the $1900 - $2600 range and upon meeting with them, I decided they would do more damage than good One "mill" attorney had this to say "oh don't worry, they know me well down there (the UST) they give me a free pass, they won't question what is in your paperwork".

uugghh!! I left RUNNING down the street from that one.

As for expenses: So because we made so much income ($120k+) I was worried, but our attorney used calculations I didn';t know existed. ie: for mortgage expenses, he took not only the monthly payments BUT ALSO calculated all the payments we owe for the entire remainder of the mortgage loan term and used a percentage of that or something. Plus a whole bunch or other stuff. Anyway the trustee said it was all good, every expense was calculated correctly and it was all allowed.

PLUS we had a $8300 tax return we got 2 days before we filed, we got to keep every cent.

What is in the Nolo books is useless.. throw it away or sell it on eBay. Get yourself a very competent attorney who know what he/she is doing. I cannot stress enough how important it is to have excellent legal representation.
Anyone who files pro-se must have rocks in their head and is asking for trouble. At our 341, 6 cases were self-filers AND EVERY SINGLE ONE OF THEM HAD THEIR CASE CONTINUED 'CAUSE THEY SCREWED IT UP. I listened very carefully and I was shocked at how much these people: left out, forgot, didn't do corrently.

We're now in the 60 day club, smooth sailing all the way! What a HUGE weight off our shoulders.

[DeadManCrawling]

There are government guidelines. If your actual expenses are higher for things like mortgage or rent, you can use the real cost in many or most districts.

Our mortgage payment was 4k/month. Our total housing outlay was 7k/month. We used it as an expense in the means test. We surrendered the house, resulting in a very fast change in our flow of income. We filed CH 7 in FL. Not all districts allow that big of a change in CH 7 and could push you toward a 13.