Means Test, Schedule I & J

[sophie]

Hi all,

I completed the means test and filled out my schedule J & schedule I. One one of them (I forget which)takes the net income into consideration and one takes the gross. If I go by our gross, it says we have $$$ left over every month (so not true). If we go by net, we are negative every month (realistic). My question is which one does the court go by?

Thanks!

[lrprn]

Hi all,

I completed the means test and filled out my schedule J & schedule I. One one of them (I forget which)takes the net income into consideration and one takes the gross. If I go by our gross, it says we have $$$ left over every month (so not true). If we go by net, we are negative every month (realistic). My question is which one does the court go by?

Thanks!

Sophie, you are thinking that 'disposable income' on these forms equals your real expenses and secured payments subtracted from your actual gross income - this is not true. "Disposable income" is an artificially created figure from subtracting your ALLOWABLE expenses and secured payments from your gross income from ALL sources from the last six months which may not bear much reality to your real income or real expenses at all.

Don't make the mistake of thinking that disposable income is calculated by subtracting your total income minus your current monthly payments or by subtracting your assets from your total debt - nothing could be farther from the truth.

[SinkingFast]

Hi all,

My question is which one does the court go by?

Thanks!

The answer really lies with your Court.

Some Courts are going by the Means Test. Some Courts are going off I compared to J. Some Courts are using a mix.

Attnys in your area can tell you what to expect in your BK Court.