Getting Ready to File-SCARED

[colleenbean]

Hey Guys,

I am single, live in Massachusetts and am getting ready to file.
I am nervous something will happen and I will get denied. One of the 341 questions is about payments over 600, and yes I have been making a $710 consilidation loan payment monthly-so does this mean i will be denied?
Also what is the income limit for a one person household?
And the means test? What is that formula?

Any help is greatly appreciated!
THANKSSS

[NoName]

No. Someone correct me if I am wrong -- payments over $600 are looked at to see if they are preferential - that is did you pay one creditor over another. Is this loan secured or unsecured? If it is secured - are you surrendering the property attached to it? If it is unsecured - why are you paying on it if you are filing Ch7?

[colleenbean]

Well it is an unsecured loan. I have been paying it or trying to because I wasn't sure if i was going to file or not-it was the miniumum payment due.

[spell]

Don't worry about it.

The only time preferrential payments are really a problem to the debtor is when you paid Mom and screwed the bank.
Then it's really only a problem for Mom, the bank will force her to play fair with the other creditors.