US Court Official Form 122C-2 free printable template

Fill in this information to identify your case Debtor 1 First Name Spouse if filing First Name Middle Name Last Name United States Bankruptcy Court for the District of District of Case number If known Check if this is an amended filing Official Form 122C-2 Chapter 13 Calculation of Your Disposable Income 12/15 To fill out this form you will need your completed copy of Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period Official Form 122C 1. Be as complete...

How to fill out 122c 2 chapter 13 disposable income form

How to fill out US Court Official Form 122C-2

1. Begin by obtaining US Court Official Form 122C-2 from the court's website or your attorney.
2. Enter your personal information at the top of the form, including your name, address, and case number.
3. Complete Part 1 by listing your current monthly income, including wages, salaries, and other sources of income.
4. Proceed to Part 2, where you will identify your secured debts and the corresponding monthly payments.
5. Fill out Part 3 with your current monthly expenses, ensuring to categorize them accurately.
6. In Part 4, calculate your disposable income by subtracting your total expenses from your total income.
7. Review the entire form for accuracy and completeness.
8. Sign and date the form as required before submitting it to the court.

Who needs US Court Official Form 122C-2?

1. Individuals filing for Chapter 7 bankruptcy who are required to report their financial situation and determine their eligibility for filing under the means test.

People Also Ask about form 122c printable

Is bankruptcy means test based on gross income?

Income from all sources over the previous six months must be included as part of the Means Test calculation. That means both taxed and untaxed income, including wages, salary, tips, bonuses, interest, dividends, royalties, retirement income, unemployment and workers' compensation, and others.

How do you pass the means test for Chapter 7?

The first and most common way to pass the means test is to have a current household income that is lower than the median income for your family size. Note that this includes your whole household income, including your spouse's income, even if you are filing for bankruptcy individually.

How do you get around the means test for Chapter 7?

Expenses That Will Help You Pass the Chapter 7 Means Test House, car, and other secured debt payments. Overdue taxes. Court-ordered payments and arrearages. Child care. Involuntary deductions. Health, disability, or term life insurance. Other healthcare expenses. Education for employment or a disabled child.

How much is too much disposable income for Chapter 7?

This formula takes a look at the amount of disposable income compared to the level of unsecured debt. If the debtor's disposable income, projected for a five-year period, is more than 25 percent of the total unsecured debt, the debtor will likely be denied a Chapter 7 filing.

What is the means test for bankruptcy?

The means test compares a debtor's income for the previous six months to what he or she owes on debts. If a person has enough money coming in to gradually pay down debts, the bankruptcy judge is unlikely to allow a Chapter 7 discharge.

What are the means test exemptions for bankruptcy?

Means Test Exemptions If your debts are not primarily consumer debts then you are exempt from the means test. You are also exempt from the means test if you are a disabled veteran and incurred your debt primarily during active duty or performing a homeland defense activity.

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What is US Court Official Form 122C-2?

US Court Official Form 122C-2 is a form used in bankruptcy proceedings to determine a debtor's current monthly income and eligibility for Chapter 7 bankruptcy.

Who is required to file US Court Official Form 122C-2?

Individuals filing for Chapter 7 bankruptcy who have certain income levels are required to file Form 122C-2 to assess their eligibility for relief under the bankruptcy code.

How to fill out US Court Official Form 122C-2?

To fill out Form 122C-2, a debtor must gather information on their income sources, monthly income amounts, and complete the sections detailing disposable income calculations according to the form's instructions.

What is the purpose of US Court Official Form 122C-2?

The purpose of Form 122C-2 is to help the court evaluate a debtor's financial situation and ensure compliance with the means test stipulated in bankruptcy law.

What information must be reported on US Court Official Form 122C-2?

Form 122C-2 requires reporting information such as current monthly income, income sources, expense deductions, and any additional financial obligations that impact the debtor's disposable income.