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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 17530
Experience:  B.A.; M.B.A.; J.D.
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My income is under median amount but my income to expense

Customer Question

My income is under median amount but my income to expense ratio is large, unless I can maximize the expenses. Also, I think I have extenuating circumstances, unreliable car to visit elderly father, trying to keep "disposable" income and place it in health saving account. I have Service connected PTSD with resulting health issues I'm trying to address and need my full income.
Submitted: 1 month ago.
Category: Bankruptcy Law
Expert:  Phillips Esq. replied 1 month ago.

Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

Expert:  Phillips Esq. replied 1 month ago.

You would not be subject to the Means Test Calculation if you are a disabled veteran and your debts were mostly incurred while you were on active duty or while you were performing a homeland defense activity. So, even if your income to expense ratio is high, you can still file for Chapter 7 bankruptcy. See Official Bankruptcy Form B122a-Supp for the exemption.

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