Ask the fresh Judge to reduce (“Stuff Down”) Particular Secured Debts
To decide whether you’re a high-earnings or low-earnings filer, you first calculate an average monthly gross income you obtained from all supply, taxable or perhaps not (except for funds acquired under the Societal Safety Work) in half a year you to definitely instantaneously predate the brand new times where you’re filing for bankruptcy. Then you multiply you to profile from the twelve and you can evaluate the effect along with your country’s median income.
EXAMPLE: Justin intentions to file for Section 13 bankruptcy during the Summer. He stays in Ca and contains five people in his home. (more…)