Bankruptcy – household income – I am confused?
admin | Oct 03, 2010 | Comments 1
I am 28 years ancient and am going to file bankruptcy in 2 months. My parents loaned me 20k about a year ago, and I paid them aptly back, hence why I have to wait 12 months to file from when I gave money to my parents.
I live with my parents and pay them 1000 a month (Always have while I lived with them). All of my bills including car payments (excluding any of the loans I am going to file on) come up to about 1700 a month. I make about 32k a year, and just have enough money to make it they way I am now.
I am filing bankruptcy on about 100k total, all personal loans and credit cards. I incurred all of this debt over the years, mostly from medical bills, and then me trying to take loans out thinking that I would be able to make it and got in over my head. I lived on my own, but went back in with my parents about 6 months ago.
Now I am well below the median test for The boards 7 in my state. But, I am confused on this household income. If you include my parents income, it is WELL above the state median for the number in the household. This doesn’t seem aptly as I am paying them, and they are doing small to anything for me. I buy everything from my own food too everything else. Just like I am living with roommates. Is this all right I have to include my parents income?
Popularity: 1% [?]
Filed Under: Bankruptcy
You should be satisfactory with the “parents’ income” requirements. The bankruptcy is just yours.
The worry is the money you repaid them. The judge might insist that money be repaid into your bank account. Then the judge will distribute it in the most equitable manner. You do not make to make the choice about who will make that $20,000.