How much is my payment?
October 21st, 2005 by Questions
I am going ot be filing for bankruptcy and I understand the system of surplus income, but I can’t seem to find a chart of site that shows how the bankruptcy payment is determined if your household income is below the allowable level. For example, as a family of 5, we are allowed to earn $3606 per month without having to contribute surplus income. What happens if our household income is less than $3606? What would I be required to pay? How is the amount required to pay determined?
Also, my trustee told me that my bankrupcy term would likely be 15 months. I have never been bankrupts before- why would it not be 9 months?
Thanks for your advice!