Hi and thank you for your question.
All interests in real estate, including timeshares, would be listed on Schedule A. Then the corresponding loan is listed on Schedule D
, linked back to that listing on schedule A. You would list the payment and assessments on Schedule J
on the budget sheet. Then you would list your intention - keep, surrender - on the statement of intentions.
The means test calculates all household income for the 6 months leading up to your case filing, subtracts allowable deductions for items like tax, insurance etc. and set amounts from the IRS
standards based on your household size and county you live in. If the end result shows that you have no disposable income available, then you would be ok for chapter 7. if there is enough disposable income, then you would need to file for chapter 13
This is a very precise calculation, so I recommend you consult with a local bankruptcy attorney to properly advise you on your case, and help you get all the deductions that you qualify for, correctly listed on the petition
. Thanks for your question and good luck to you.