means test

[scorpion35]

if my income is over the medium income but i pass the means test i can file chapter 7 right?
based on my calculations i am -$800 on the means test

[DeadManCrawling]

Yes, you can. You may be looked at a little closer, in terms of expenses, so be prepared to prove them if necessary.

We were over median as well, but -4k per month after expenses, due to a huge income drop and giant mortgage/home expenses.

We didn't receive any special attention, but you should be aware it could happen.

[scorpion35]

Yes, you can. You may be looked at a little closer, in terms of expenses, so be prepared to prove them if necessary.

We were over median as well, but -4k per month after expenses, due to a huge income drop and giant mortgage/home expenses.

We didn't receive any special attention, but you should be aware it could happen.

i see you're in florida.so am i
how much $ can i have in my checking account before i file?
does stuff i sold on ebay and the money deposited in my paypal account count towards my income?
did the TT send anyone to your house to look at your personal property?

thanks

[daglo]

Yes, you can. You may be looked at a little closer, in terms of expenses, so be prepared to prove them if necessary.

We were over median as well, but -4k per month after expenses, due to a huge income drop and giant mortgage/home expenses.

We didn't receive any special attention, but you should be aware it could happen.

This is us!! We have a good income, but I lost my job last year, and my husband took a cut in his income. We have a 2299 first mortgage payment and a 400 second. We were worried that they would not let us file a 7 because of our income. Can they tell us our payment is too high on our mortgage? We clear 5600 a month after taxes, and our expenses including our mortgages, back taxes, car payments, utilitites, sutdent loan (PLUS loan), food,medical would put us in a negative state. What do they do with that? I am afraid they will disallow our expenses. We do nothing, buy nothing, but we need someone to cut our lawn because of my husband's illness and my back injury. We live on 4 acres, and it would be impossible for us to cut. We could count that as housing expense, but we have some guy do it, and we make up for it by not having any recreation expenses. No vacations since 96, nothing. Is this an allowable expenses? I am worried about the mortgage payment. We are current on it.

[nceguyfromne]

This is us!! We have a good income, but I lost my job last year, and my husband took a cut in his income. We have a 2299 first mortgage payment and a 400 second. We were worried that they would not let us file a 7 because of our income. Can they tell us our payment is too high on our mortgage? We clear 5600 a month after taxes, and our expenses including our mortgages, back taxes, car payments, utilitites, sutdent loan (PLUS loan), food,medical would put us in a negative state. What do they do with that? I am afraid they will disallow our expenses. We do nothing, buy nothing, but we need someone to cut our lawn because of my husband's illness and my back injury. We live on 4 acres, and it would be impossible for us to cut. We could count that as housing expense, but we have some guy do it, and we make up for it by not having any recreation expenses. No vacations since 96, nothing. Is this an allowable expenses? I am worried about the mortgage payment. We are current on it.

I don't think you'll get scrutinized for your lawn mowing expenses (or anything else that specific) as long as whatever expense category you/your attorney lists it in does not greatly exceed the norm.

On a higher level, though, it IS a problem that your expenses exceed your income. If you file a petition in which your expenses (not including credit cards or other debts that will be discharged, of course) exceed your income, you are likely to get scrutinized. You will need court approval to reaffirm any accounts you want to keep and will have to demonstrate that it will not present an "undue hardship" (meaning, you won't be able to afford to pay it). The whole point of bk is a fresh start. If you emerge from bk already "in the hole" then you're pretty much asking to go right back down the same road you're already on. If it comes down to filing with a deficient budget then you may be looking at questions such as "why can't you cut the lawn yourself?"

Who has the PLUS Loan? If it's your husband's and he has a proveable disability, there is some potential he could get the loan discharged.