Brett Weiss
06-24-2003, 08:08 PM
The question is likely whether you have "excess income," that is,
after your regular expenses--those listed on Schedule J--are paid,
whether you have enough left over to pay a reasonable amount,
usually at least 10%, to your general unsecured creditors.
As far as what is involved in a Chapter 13, check out my
bankruptcy FAQ at http://users.erols.com/lawyer/faq/br_faq.htm
--
Brett
************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@erols.com *
* http://www.erols.com/lawyer *
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* Small Business Estates & Estate Planning *
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The Small Print: This response is for discussion purposes only. It
isn't meant to be legal advice and you shouldn't treat it as such.
If you want legal advice, speak with a local lawyer familiar with
your state's laws who can review *all* of the facts and the law
applicable to your situation.
************************************************** ***************
"Sarah" <sarah_im22@yahoo.com> wrote in message
news:9b8ebfab.0306232111.178f3c26@posting.google.c om... My laywer never mentioned it until it was time to sign. Then he had me sign paper work acknowledging that he notified me that
'My case could be converted to a chapter 13' .. I assume this has to do with income vs. expenses? Has anyone had experience with this
happening (*or not!). I'm in Northern California, make $43,000 with wifes income. Exempted assets of $25,000 and bills of $45,000. My
budget puts me just over the 3000 per month we take home but includes items some may feel are luxury like cell phone, health club, lunch out
at work. What is the criteria here? Has anyone already done this with
these or similiar circumstances? What should I expect if it is converted to a chapter 13? Please comment....I'm hoping that debtors with
real experience can tell me what happened in their case. Not advise
to ask my lawyer please, I already did that. Perhaps this isn't likely
to get such a responce as only 'pre' filers would be reading this NG
stuff. oh well.........
after your regular expenses--those listed on Schedule J--are paid,
whether you have enough left over to pay a reasonable amount,
usually at least 10%, to your general unsecured creditors.
As far as what is involved in a Chapter 13, check out my
bankruptcy FAQ at http://users.erols.com/lawyer/faq/br_faq.htm
--
Brett
************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@erols.com *
* http://www.erols.com/lawyer *
* *
* Small Business Estates & Estate Planning *
************************************************** ***************
The Small Print: This response is for discussion purposes only. It
isn't meant to be legal advice and you shouldn't treat it as such.
If you want legal advice, speak with a local lawyer familiar with
your state's laws who can review *all* of the facts and the law
applicable to your situation.
************************************************** ***************
"Sarah" <sarah_im22@yahoo.com> wrote in message
news:9b8ebfab.0306232111.178f3c26@posting.google.c om... My laywer never mentioned it until it was time to sign. Then he had me sign paper work acknowledging that he notified me that
'My case could be converted to a chapter 13' .. I assume this has to do with income vs. expenses? Has anyone had experience with this
happening (*or not!). I'm in Northern California, make $43,000 with wifes income. Exempted assets of $25,000 and bills of $45,000. My
budget puts me just over the 3000 per month we take home but includes items some may feel are luxury like cell phone, health club, lunch out
at work. What is the criteria here? Has anyone already done this with
these or similiar circumstances? What should I expect if it is converted to a chapter 13? Please comment....I'm hoping that debtors with
real experience can tell me what happened in their case. Not advise
to ask my lawyer please, I already did that. Perhaps this isn't likely
to get such a responce as only 'pre' filers would be reading this NG
stuff. oh well.........
