Disposable income is not an issue (it is not relevant) for Chapter 7. For a Chapter 13, disposable income is the money left over after from one's pay after deducting all allowable expenses, such as housing costs, transportation costs, food, medical care, etc.
Yes - the court will allow an early payoff if you inherit money while in the Chapter 13.
If you file a Chapter 13, you have to start making the payments within one month after filing.
You will not be prevented from collecting the rent
from your rental property. The net rent (gross rent minus expenses) is included in your income for determining the plan payments.
The Bankruptcy court will not take your rental house, because it has no equity
, as the mortgage is greater than the market value. In fact, if you are already behind on the mortgage for the rental property, filing a Bankruptcy will not affect that property at all, so that there is no reason to inform your tenants of your Bankruptcy filing.
Edited by cfortunato on 1/7/2011 at 8:11 PM EST