free Means Test

[RickD]

click here to view the bankruptcy means test

http://www.bcande.com/bankruptcy.html

[StaciMM]

Hi Rick!

Just wanted to let you know it is now calculating 'other income' in w/ total income.

Also, I noticed that 'allowed' matches my 'actual' vehicle ownership costs, or car payments, where before I got a message that I was over. Does anyone know if this is a category that is restricted/limited based on IRS standards, or if secured payments fall to actual. (Assuming no more than 1 vehicle per driver, of course.)

click here to view the bankruptcy means test

http://www.bcande.com/bankruptcy.html

[RickD]

Re: car payment

If you have 1 car payment they allow you a minimum of $475. If the payment is higher than 475 they allow the actual payment.

If you have 2 cars they allow $813. If for example 2 car payments equal 1000 then they allow the whole thousand.

If you have one payment and it is only $200 they allow $475

[StaciMM]

Thanks for the info. WHen I did it before, it came up w/ $475 and I thought that it was trying to say my 2 car payments should be under that. (I wish!) I haven't found anything on the www about car payments, expenses under the new laws. Doesn't apply to me really, as I've already filed. I'm just curious I guess!

[RickD]

Re: car payments

You may only get the $813 allowed expense for 2 cars if you are a family of 2 or more. Try for example on our test entering a family of 1 and then 2 car payments. It will only give you credit for 1 payment or $475 if your actual payment is under that amount.