Bankruptcy Means Test Tips

bankruptcy means test information

In a bankruptcy means test, is sales commission included?
Right now my wife and I make about 53,000 combined without my commission. Our state median is $58,000.My new job is going through a lot of restructuring with commission structures and such. Right now I'm making about an extra $400 600 month with comissions, but that could easily be taken away at any time. I'm worried that they are going to put us in a CH 13 and then we will default because of a reduction in income.

Can you include both mortgage and rent for housing expenses under the bankruptcy means test?
We were forced to relocate due to both my husband and I facing lay offs. We have now been paying for expenses in both locations for 7 months because our house will not sale. We are currently renting a home in the new location. Only one of us is currently working and the other is receiving unemployment. We are now looking into the possibility of filing bankruptcy to get rid of the house and over $45,000 of unsercured debt. However, the only way we will qualify under the means test if if we can show the expenses that we are paying at both places. Otherwise it's going to look like we have disposable income. This is such a catch 22 because the fact is that we do have expenses at both houses and because of that our expenses are more than our income. We are now foced to pay the minimum on our credit cards. And are having to use them just to make ends meet. However if we were to get rid of the house, we will have an additional 1600. Ideally we would like to experience the " fresh start" that bankruptcy usually promotes and have all of this debt wiped out. Any guidance will be greatly appreciated.To clarify a little more. We didn't choose to relocate. We both got laid off from two different companies. One of us was fortunate enough to land a job with the existing company in another state. Therefore, the company relocated us. The other one was laid off 3 months ago and is currently actively looking for a job.Based on the responses, I'm assuming that I said some misleading things. One of us relocated to another state with our existing company because they shut the old company down. The other one continued to work in the old state and then was laid off 3 months ago and is now, currently actively looking for employment in the new state.We put a lot of renovations into the house and it is pretty much up to par. The problem is that due to foreclosures in the area and the decline in housing values, we are now bottoms up.Thanks for all of the advice.

When you do a bankruptcy means test, is it your current income or year previous annual income?
My wife and I made really good money the first part of the year, but then our income plummetted because I had to take less of a job. We are hoping we qualify for Chapter 7 because we want to surrender the house.

Is the Bankruptcy Means test necessary if I am filing a 100% plan?
Having a lot of trouble obtaining income information for past 6 months, but the 13 plan will completely pay off creditors. I'm deciding whether the work that the means test entails in this case is necessary.

Bankruptcy means test question..............help!!!!?
Alright, here is the situation.My wife and I live in a fairly nice home. We make too much money to qualify to pass the means test for a Chapter 7.We CANNOT afford the home with small children, daycare costs, etc. I always hear everyone say that you can only use a Chapter 7 to ditch a home. If you use a Chapter 13 to surrender a home I've talked to several lawyers and they say you can , what happens to the mortgage debt?Wouldn't it be silly to try to save a home if you can't afford it?

Bankruptcy means test?
My husbands company relocated us to a new state and our home is sitting vacant on the market. We are renting in the new location and getting ready to file bankruptcy. Does anyone know if we can count the home we own in the other state on the means test even though we are not living there and renting in a different state?

Does UNEMPLOYMENT count as income for the Bankruptcy means test?
I am getting an unemployment check and wondering if it counts towards employment on the Ch7 means test