Chapter 7 question

I don't know how the chpt. 7 works, but I know a friend of mine and her spouse just filed chpt. 13 and the courts are pretty much taking 100% of his check and leaving her's alone. I think his last check was for just over $1.00

OMG, Steelers :shock: He only brought home a $1.00 on his last check? So basically, the trustee is just taking his and leaving them with her's for living expenses?

Yes, that is exactly what they are doing. So he is going to start doing more overtime than he has been doing already.

With chapter 7, they only consider the income of the spouse if the spouse is filing with you.

Usually qualifying income is based on what is shown on the last three paychecks. In your case they would ask for Profit/Loss statements and if you don't have those, they (the attorney doing the work for you) uses your bank statements for a period of time. I'm not sure if it's three months or six months. You would have to consult with a bankruptcy attorney before making your decision. Usually the consultations are free because bankruptcy attorneys are fee-based and don't charge by the hour unless there are circumstances above and beyond the normal scope of a bankruptcy filing. Hope that helps.

For a chap 7 the look at your last 6 months of income.And if filing jointly they will need both sposues income