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Recent Means Test questions

Is a loan against a 401K considered a secured loan for

Is a loan against a 401K considered a secured loan for purposes of the means test that allows deductions of creditors listed in Schedule D.

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Terry L.

Partner

Doctoral Degree

2,908 satisfied customers
I am a homeowner with close to $35,000 in credit card debt.

Good morning, I am a homeowner with close to $35,000 in credit card debt. I find myself in a deficit of about $250/mo paying mortgage, household expenses, and credit card payments. Would I be eligible for bankruptcy? Thank you,.

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Terry L.

Partner

Doctoral Degree

2,908 satisfied customers
I have the following debts: 42,000 student loan (Feds)

I have the following debts:42,000 student loan (Feds)14,000 car loan12,000 signature loan26,000 credit cardsI've been unemployed 5 monthsAssets:22,000 in pension account600 in Series e savings bonds2000 in stock and bonds account3200 in 401k1000 cashI do receive 1,900 in unemployment benefits a month but that will run out in 2 monthsIs it as hopeless as I feel it is? Should I file for bancruptcy now?

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mmdesq

Attorney

Doctoral Degree

1,044 satisfied customers
Do you have to include VA disability as income on the

Hello...Do you have to include VA disability as income on the chapter 13 and/or chapter 7 means test, Debtor is not 100% disabled but is 80% disabled...thank you in advance for your assistance

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DrakeLAW

Juris Doctorate

952 satisfied customers
This is a chapter 7 question...The Debtor is over the median

This is a chapter 7 question...The Debtor is over the median and is giving up his vehicle in his chapter 7 case. However, he is going to have to pay for the fuel and upkeep of a vehicle owned by someone else while he gets back on his feet. Can the Debtor still check 1 vehicle on line 11 of the 122A-2 means test form because he does have operating expenses although he doesn't have ownership expenses? Thank you in advance for your assistance.

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Maverick

Doctoral Degree

7,150 satisfied customers
I am already a member, I am not sure of my password please

I am already a member, I am not sure of my password ***** advisemy email is***@******.*** thank youI am going to file chapt 7 bankruptcy in florida in 2017I believe the most my wife and I can make is 54k per yearmain questionmy wife and I have social security benefits 37k combineddoes this mean that I can only make an additional 16 k approx.to be less than the 54k max amount allowedmy accountant claims my social security benefit as a benefit, not as incomehe puts down 0 of income adjacent to my 37k social benefit on our tax formto be more accurate my wife is on social security disabilityor can I make 53k plus my 37k which is our social security ???this a very important question for me.please ask me any additional questions if needed cell phone is(###) ###-####thank you barry warner

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DrakeLAW

Juris Doctorate

952 satisfied customers
I am a disabled vet with 60%, and I want to file bankruptcy

I am a disabled vet with 60%, and I want to file bankruptcy with my spouse. We accrued all debt while serving actively. My question is since I already pass the means test according to the SCRA, does my wife also automatically pass or does she have to use her income and take the means test. No Bankruptcy lawyer that I have spoke with could tell me a definitive answer.

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LawTalk

Attorney at Law

Juris Doctor

35,212 satisfied customers
Regarding BK chapter 7,in Illinois state We are a family of

Hello,Regarding BK chapter 7,in Illinois stateWe are a family of four.I want to file BK by myself,NOT Jointly.I know that our family income must be maximum the "Illinois Median Income standards for Means Test" for a Family of 4,shows around $7000/month.Question:would that be the income BEFORE TAXES(=gross) of AFTER TAXES (NET)?Thanks!

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TJ, Esq.

Juris Doctor (JD)

11,468 satisfied customers
I 't know if I've selected the correct lawyer - My mother

I don't know if I've selected the correct lawyer -My mother called me with a debt collector on the line, my mom hasn't handled any of here of here own finances 2002, she my dad passed, at the time she could of handle her own affairs but ask me to do it - today at 72 yrs old she doesn't has the ability. The last time this happen was in March when old tax bill that I forgot (I also had 3 strokes and on disability as well) from MA went several years with nothing and then a letter with to garnishment from the MA DEPARTMENT OF REVENUE was attached, we are in a repayment plan. I not trying to dodge a bullet. am correct in I state and federal taxes can attached social security & pension ?My mother does get social security and a widows pensions from my father whom worked for GM. She had nothing in the bank, no savings not a dime and live paycheck to paycheck, over the last few years when I got sick and they garnishment my wife she helped us paying for our childrens day care so I could go to physical therapy to learn how to walk and talk again, She doesn't even on a car, she , she lives very modestly about 3 hrs away and on her own (something I am not sure that she will be able to continue to do) she is in poor health and really has nothing. The debt service call was about a judgement in 2010 for $16000 , I'm not quite sure how, I believe it was through 'default' - in the past I have appeared for her and handle these things but I can't remember this one, neithern can she - I have looked at the court records and the debt was filed one in my county not hers (Port St Lucie) it states she was spoken to by phone - I know it doesn't matter that neither of us remember this account or the court hearing because the have a judgement -which there trying to collect on it. Of course I can't settle the judgement because I can't payout a lump sum or have the ability to make a reasonable effort to make a payment arrangement on the judgement, apparently at the time I / we was paying a $100 a month on the debt but I stopped that was all they would tell me, she owns her house she is upside down in, her credit is aweful - while I was on the phone with the debt agency she stated "she has good credit, she owns a house, she has a car ' and trying to tell her this isn't true, but of course they don't want to hear it. The judgement paperwork states speaking with her the phone at the time the hospital for 22 months after a car accident I think that's why no remembers this debt or the account it's attached to, but I do know I can't fight the judgement and even if I couldn't I don't have the money for legal representation. So I have no idea what to say, we have always tried to help each other,my wife and I are racked up to our eyes with our own debt issues and we have just recently had to make several repayment deals because while I'm disabled it is tough for them to attach me (and my mother was disabled before she hit retirement age) but my wife keeps getting garnished and we keep paying because we can't come up with a bulk amount to start a better repayment plan and the cycle keeps going, I just wanted to give you a better scope of what is going on, if I had it's I would give it to her, my mother even gets meals on wheels I would sincerely ***** ***** as I did tell the debt agency collector I would contact her today, can they just 'dig up a judgement ' any time and force collection ? Should I tell them she is paying a state tax lien, the state / gov garnish social security wages ? I have nothing to offer I can't even make a constructive repayment schedule. I would tell her to go to bankruptcy court and file but I am afraid that she won't pass the way and means tests as I have run the numbers and she barely has -$300 a month because of the pension income, the debt agent stated that she must have something must of happened because they don't just reopen these thing for nothing, I was also told there is no statue on judgements, I lost half my collective brain capacity during my illness.Is there any way I can keep this from be publicly posted ?All help would be sincerely appreciated,

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Texas Atty

Juris Doctor

36,952 satisfied customers
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