Filing tomorrow - freaking out - have questions!

[baker21]

We are above in income, but pass the means test with no problem. My attorney just emailed me the petition to look over before we file tomorrow. Schedule J is showing us with $409 per month. (I know we don't have that much surplus each month.) Which is considered by the trustee, the means test or Schedule J. Sorry if this is a stupid question, but I'm kind of freaking out

[Pjmax]

Don't freak out. I'm sure the experts will be along soon to comment. Look it all over, see what needs to be changed and call your attorney. If it's not right, it can be fixed before it's filed.

[AngelinaCat]

Check the rough draft copies you have at home. Make sure when you go in tomorrow--I am assuming that you are going in tomorrow to sign the petition--that BEFORE you sign it, make sure every single page is correct. We spent at least two hours in our attorney's office correcting her mistakes before we signed. After all, you will be asked at your 341, if "everything on the petition is true and correct."

Good luck tomorrow. You will feel a lot better when you have your case number in hand.

[baker21]

Just spoke with the attorney and he said they go by the means test and we have no assumption of abuse. He's already corrected a couple of things I asked about and sent me an updated petition. I'm going to sit down now and go over it carefully. Those numbers just sent me into a panic.

The first thing I thought was "let me ask the forum"! Thank you for helping my nerves!

[Pandora]

Hold on....

You pass the means test - however that doesnt mean you cant end up in a Ch. 13. If your attorney is telling you that you're golden with a Ch. 7, then he / she is incorrect. Means test simply means there is no presumption of abuse - your Schedules also come into play. If you have $490 DMI left over after all bills / expenses, then it is VERY possible you may have to file Ch. 13.

Read through the forums so that you know how the BK process works.... your attorney should have explained this to you at the very least.

[baker21]

After I went through the paperwork last night, I found an error in the income portion. Now it actually shows us -$175 on Schedule J. That's more like it!!! Once we cut back on some things and budget, we'll have a great fresh start.

Thank you everyone!

[beaconterra1]

Many people, even some lawyers, forget, or don't know about, the other "Means Test" - 11 USC 707(b)(2)(A). (I'm a newbie & can't post URLs, but just look that up)

In short, if the disposable income on Schedule J is "too high," e.g., greater than $166/month, you are subject to, but not necessarily certainly, being forced into a Chapter 13.

Review that Schedule J over and over and over. I kept realizing there were more expenses I was not counting...kinda just didn't think about them until they arrived in my face over the course of life. A lot of people don't factor in things like annual car registration fees, smog fees, postage stamps, banking fees, even that priority one essential, toilet paper! Count them, since you have to pay (for) them! If they're not monthly, figure out the annual amount, and divide by 12.