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Computing income for ch 13 (Debtor is a teacher)
Sofya - In the Valley, I've done what you suggest for teachers (though most
in LAUSD are on 12-month schedules now). The Valley judges utilize the I-J
as plan payment so capturing average income is key, in all fairness to your
client, who otherwise cannot afford the average check during the lean summer
months. You'll have to explain your math regardless, so I think you're on
the right track. Hale
sofiya
Sent: Sunday, May 16, 2010 5:15 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Computing income for ch 13 (Debtor is a teacher)
Question: I have a client who works as a teacher. She gets paid for 10
months each year and has no income for the remaining two. Ch 13 bk will be
filed in Woodland Hills. The way I did the Means test is by taking her
monthly gross income (which is the same every month) times 10 months,
divided by 12 months. Is this correct? I'm concerned that once I submit the
60-day paystubs, the trustee will see that my numbers are lower. I provided
an explanation on schedule I, but not sure if this is sufficient. All I'm
trying to do is how to the trustee that based on the "totality of
circumstances" the Debtor's average income is lower due to two unpaid
months.
Any help on how I should do the math is greatly appreciated!
Sofya Davtyan, Esq.
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Question: I have a client who works as a teacher. She gets paid for 10 months each year and has no income for the remaining two. Ch 13 bk will be filed in Woodland Hills. The way I did the Means test is by taking her monthly gross income (which is the same every month) times 10 months, divided by 12 months. Is this correct? I'm concerned that once I submit the 60-day paystubs, the trustee will see that my numbers are lower. I provided an explanation on schedule I, but not sure if this is sufficient. All I'm trying to do is how to the trustee that based on the "totality of circumstances" the Debtor's average income is lower due to two unpaid months.
Any help on how I should do the math is greatly appreciated!
Sofya Davtyan, Esq.
The post was migrated from Yahoo.