omg.......
okay guys....i gave you all my net income for the month which is $1440. Gross is $1833.....i thought someone told me they take the net..but i was reading another post and they statd that you have to go by gross....Which one is it? ....i may not qualify for ch. 7 now..... im in richmond, va. and its just my baby and i.
-
-
I'm almost positive it's the gross for figuring for the median income limits. But for the means test, they use the gross and then back out the taxes and other insurance which gives you the net. Does that make sense? Also - do you get child support for your baby? That counts too.11/14/07 -filed C7
12/04/07 -case pulled for random audit.
12/18/07 -341 held: Asset case due to engagement ring & tax return.
02/19/08 - US trustee files motion to extend.
04/02/08- changed back to NO ASSET! I get my ring back and get to keep my tax return! :clapping: 04/28/08 -DISCHARGED!!! :yahoo::yahoo: 05/07/08 - CLOSED!!! -
no child support .....at all.....Comment
-
Yes, gross income is used to calculate the last six calendar months of income for the Means Test.Originally posted by tiredofdebt View Post
If you make $1833 every month, then your last six months income = $10,998 X 2 for annual income = $21,996. The median income for a 2-person family in VA is $58,815 - http://www.usdoj.gov/ust/eo/bapcpa/2...come_table.htm
At $21,996 annual gross income you are still well under the VA median for your family size. Do you have other sources of income? If you don't, then Ch 7 is still very possible for you!I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
Comment