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cash flow determination

If I were to file a division one proposal, how is my cash flow determined to be eligible? ie. What would the trustee use to estimate grocery, misc needs etc. We have no assets left and are used to spending more than we make, but we really would prefer a proposal.

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One Response to “cash flow determination”

Barton Goth GCO Bankruptcy Trustees said...

Best thing to do is simply go and sit down with a local trustee and see what they will require.

The income side is usually the easier part, we can look at pay stubs, previous income tax returns etc. Normally the trustee will help you come up with a list of expenses, but this one is definately a little more difficult. They will start with what you spend now and then it will really be up to you to determine what or if anything can be reduced. If you are able to find sufficient cash flow to fund a proposal then great, but if not you may find it simply would be unmanageable.