Expenses and ch 7

[creditchaos]

What is the name of your state? OH

How do you list your expenses if someone else has been assisting you in paying them when you are filing a ch 7? What if they were paying all of them? How would it affect the out come? I was curious and haven't seen this addressed here.

 

[planner]

You have to list your expenses and any contributions from others.

If those contributions are going to stop you would have to explain why (i.e. moved out).

Most trustee will ask for bank statements, if your numbers don't look good they will review your bank statements.

If your living rent free, you have no expense.

 

[creditchaos]

What if someone had no income for months. That should explain the reason for the contributions. What if a person were living with someone and had paid their share of the expenses when they had income but stopped when they no longer had any income?

Thanks for your reply planner.

 

[planner]

To many what if's?


Not Listing the Money Your Live-In Partner Brings Into the Home

I have had many divorced women fill out their bankruptcy petition, write down that they have no income but they pay rent, utilities and other living expenses. My first question is "How can you pay these debts if you have no income?" Oftentimes, it is because they have a live-in partner or roommate who pays the bills. It is perfectly okay if a live-in partner is paying the bills while you are unemployed or living on other types of government assistance. Your bankruptcy petition will simply list all your normal living expenses on Schedule J and on Schedule I under "other income" and list the amount the live-in partner contributes to pay these bills. This will balance out Schedule I and J of your bankruptcy petition to most likely a balance of $0.00.



http://www.bankruptcyfinder.com/article folder/bankruptcy_book_1102.doc

 

[creditchaos]

I wouldn't even consider trying to hide anything or lie. It is never worth it.

Thanks for the info planner.

 

[anadude]

and there's the rub, whatever that person is paying for you is actually income to you, so if you think you're going to be in trouble with the irs in the next few years, they'll be coming after the income (taxes) reported on your bankruptcy petition also.

 

[Ladynred]

And how do you figure the IRS is going to do that ??

Do you know, for a fact, that the IRS is scanning bankrutpcy filings to find 'hidden' income ?

 

[creditchaos]

You are jumping to unfair conclusions here. No one is paying my bills. I live with someone in their home and while I was employed I paid my share of the expenses. During my period of unemployment I wasn't paying my share. I wouldn't hide anything from either the IRS or the bankruptcy court. I am not looking for a way to cheat anyone.