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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I would like to see if I qualify for bankruptcy. Can you

Resolved Question:

I would like to see if I qualify for bankruptcy.

Can you give a worksheet I could fill out with allowance for food, etc on it.

Thanks
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 2 years ago.

cfortunato :

Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

cfortunato :

The forms you would have to fill out to see if you qualify to file a Chapter 7 Bankruptcy depend on the following:

cfortunato :

1) How many are in your household?

cfortunato :

2) What is your total gross household monthly income?

cfortunato :

Please answer those 2 questions, and I can send you the link for the form.

Customer:

1 currently

Customer:

I think my gross is around 45000

cfortunato :

Thank you for your response.

cfortunato :

Here is the form you have to fill out to determine if you qualify to file a Chapter 7. (If you do not qualify to file a Chapter 7, you may be able to file a Chapter 13.):

cfortunato :

http://www.uscourts.gov/uscourts/RulesAndPolicies/rules/BK%20Forms%201210/B_22A_1210.pdf.

cfortunato :

Since your income is above the median for your household size, you do have to fill out the entire form (9 pages).

Customer:

roughly how much would it cost for an attorney

cfortunato :

For a Chapter 7, you can expect to pay an attorney around $1,500 to fill out and file the papers.

cfortunato :

Or you can pay a Bankruptcy preparer $200 to fill out the papers, and then you can file them yourself.

cfortunato :

For a Chapter 13, you can expect to pay an attorney around $3,000, but you would be allowed to pay that amount over a period of 5 years.

Customer:

I'm also behind on paying all my taxes

cfortunato :

(You would not be able to use a Bankruptcy preparer for a Chapter 13.)

Customer:

total debt is around $13000

cfortunato :

What type of taxes do you owe?

Customer:

income

Customer:

some credit card and taxes

cfortunato :

For what tax years are the taxes owed?

Customer:

credit was around 19000, now it around 9000 but some aren't willing to settle

Customer:

taxes around 8500

cfortunato :

For what tax years are the taxes owed?

Customer:

my original plan was to get the credit cards settle and then make payments on my back taxes

Customer:

3 years, but I was adding for this year two in my total

Customer:

the past three is around 6900

cfortunato :

Do you have to pay support for any dependents outside your household?

Customer:

One credit card company has filed a law suit against me,

Customer:

No my children are over 18 now

Customer:

and I have paid all my child support order by the court

cfortunato :

I think your income is too high to file a Chapter 7 - unless you have support obligations outside your household - such as child support or alimony.

Customer:

My problem was when the economy took a down turn and my income got cut around 19000 a year

cfortunato :

You will not be able to file a Chapter 7 unless you have high medical bills, or if you have to pay child support or similar.

Customer:

I had surgery a few years ago, but its pay off now

Customer:

this partly why I am having problems catching up now

cfortunato :

The maximum amount you can earn to file a Chapter 7 is $38,682 per year.

Customer:

okay

cfortunato :

It would not pay for you to file a Chapter 13 because you would end up paying the entire amount that you owe - since you do not owe that much total.

Customer:

what is the basic difference between the two

cfortunato :

With a Chapter 7 your debts are discharged without paying anything to your creditors.

cfortunato :

With a Chapter 13, you have to pay all disposable income (around $500) every month for up to 5 years.

Customer:

I would like to find a form I could just put in all my debt payments in with an allowance for living cost

Customer:

If they are going to force me to paid for this I would more than likely loss my home

cfortunato :

There is no form that provides an allowance for debt payments - only living expenses (such as food and housing).

Customer:

that would work, I could figure how the other part and see if I have enough to live on with what they are saying I should be able to live on

cfortunato :

Yes - the form I gave you the link for will allow you to figure that out.

Customer:

okay, that will give me something to work with for now

Customer:

If I have any other question I will get back with you

Customer:

thanks

cfortunato :

You're welcome!

cfortunato :

And yes - please feel free to get back to me with any additional questions.

cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience: Bankruptcy professor.
cfortunato and 5 other Bankruptcy Law Specialists are ready to help you
Customer: replied 2 years ago.

Just double checking on this site you gave me.


 


http://www.justice.gov/ust/eo/bapcpa/20120501/bci_data/national_expense_standards.htm


 


there is 2 charts, which one would I use?


 


Also it show 1 for food is $301, Is this for the month? if so this is less than $10 a day for food.


 


 

Expert:  cfortunato replied 2 years ago.
You have to start with the first chart ($565 per month for one person), and if that amount is not enough, then you can add the amount in the second chart ($19) for food and clothing.
Yes - the allowance is only $565 per month, but you are allowed this amount whether or not you actually need the $264 amount for "housekeeping and supplies", and "apparel and services", etc.
Customer: replied 2 years ago.

What about transportation or gas to get back and forth to work? I don't see a allowance for this. Is there one?

Expert:  cfortunato replied 2 years ago.
Are you asking what amount to put on line 22A?

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