Personal Bankruptcy Means Test vs. Actual Income and Expenses

[RSMNV]

My question involves bankruptcy in the state of: Nevada

Hi folks. Considering chapter 7 bankruptcy. My income is above the median, so I completed a means test. Using the expense allowances I am $-242/month, so that's good. However, when I perform an estimate of my actual income and expenses I am +$175. If I file, will the judgment be made based upon actual or the "means"?

 

[Theresagail]

it will be based off the means test- but it will take your actual wages and the means expenses so if your rent is 900.00 but Nevada says the mean is 750 then they will say 750

 

[diy4law]

When qualifying for the means test, a rule of thumb as $1000 more month than what listed on the IRS median income table. The reason for this is your living expenses. People have cell phones, telephone, cable, pets, rent etc. what the basis for the means test is your ability to pay the creditors back. If you only have $175 a month left over after you pay everything most likely you'll qualify for a Chapter 7. If you file for Chapter 7 and the trustee thinks you have an ability to pay, they will want to move it into a Chapter 13 bankruptcy which will give you 3 to 5 years to pay.

 

[omeliok2010]

it will be based off the means test- but it will take your actual wages and the means expenses so if your rent is 900.00 but Nevada says the mean is 750 then they will say 750