Bk 7 or 13?

[davids]

I am getting ready to file, I know I can file chap 7, I have no job,
no assests, owe a lot, etc...

my wife on the other had also has bad credit, BUT, she
makes 60k+ a year - dont rush off and think thats a lot of
money, its not - right now payday is friday and we already
have her paycheck spent, its just not working out even with
the money she makes - even if she did a chap 13, we still would not
be able to make the extra payments.... we live check to check or
below sometimes...would she even be able to file chap 7?

I really want that house we saw... ;)

[FoolAndHisMoney]

I am getting ready to file, I know I can file chap 7, I have no job,
no assests, owe a lot, etc...

my wife on the other had also has bad credit, BUT, she
makes 60k+ a year - dont rush off and think thats a lot of
money, its not - right now payday is friday and we already
have her paycheck spent, its just not working out even with
the money she makes - even if she did a chap 13, we still would not
be able to make the extra payments.... we live check to check or
below sometimes...would she even be able to file chap 7?

I really want that house we saw... ;)

Take means test, form b22a and see if you qualify for a chapter 7 as you probrbly will. Your combined income is higher then the median, but the rest of the test will determine your qualifications.

[davids]

hi

Take means test, form b22a and see if you qualify for a chapter 7 as you probrbly will. Your combined income is higher then the median, but the rest of the test will determine your qualifications.

ok, you got me, how do we take this test? If it is so that she can
file, can we file jointly?

if you would direct me to this test.

[StaciMM]

Whether or not your are above/below the median is going to depend on family size & state. I think there is a sticky (post by RickD) about the means test. If not here, look in the Chapter 7 folder.

[FoolAndHisMoney]

ok, you got me, how do we take this test? If it is so that she can
file, can we file jointly?

if you would direct me to this test.

On the 2nd link look for form b22a and fill it out to see if you qualify. You can click the links on the form that will take you to the IRS tables for your region.

http://www.bcande.com/servlet/Means22

http://www.uscourts.gov/rules/new_and_revised_official_forms_101405.htm