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Hawaii Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period

State:
Hawaii
Control #:
HI-SKU-0023
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PDF
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Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period
Hawaii Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period is a document that must be completed by a debtor prior to filing for Chapter 13 bankruptcy in the state of Hawaii. This document is used to determine the debtor’s eligibility for a Chapter 13 bankruptcy, as well as to determine the length of the repayment plan. The Statement of Your Current Monthly Income is used to calculate the debtor’s disposable income, which is then used to determine the length of the repayment plan. The Calculation of Commitment Period is used to determine the duration of the repayment plan, and it is based on the debtor’s disposable income. There are two types of Hawaii Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period: Form B22A and Form B22C. Form B22A is used to calculate the debtor’s current monthly income and to determine the duration of the repayment plan. Form B22C is used to calculate the debtor’s disposable income and to determine the amount of the repayment plan.

Hawaii Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period is a document that must be completed by a debtor prior to filing for Chapter 13 bankruptcy in the state of Hawaii. This document is used to determine the debtor’s eligibility for a Chapter 13 bankruptcy, as well as to determine the length of the repayment plan. The Statement of Your Current Monthly Income is used to calculate the debtor’s disposable income, which is then used to determine the length of the repayment plan. The Calculation of Commitment Period is used to determine the duration of the repayment plan, and it is based on the debtor’s disposable income. There are two types of Hawaii Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period: Form B22A and Form B22C. Form B22A is used to calculate the debtor’s current monthly income and to determine the duration of the repayment plan. Form B22C is used to calculate the debtor’s disposable income and to determine the amount of the repayment plan.

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FAQ

Alabama Attorneys Counseling Individuals on Bankruptcy To file for Chapter 13, you need to file Form 122C. Entering into a debt repayment plan is a serious commitment, and it is important to consult an Alabama bankruptcy lawyer about filing for Chapter 13 in this state.

Your monthly disposable income is the minimum you'll pay to your non-priority unsecured creditors throughout the course of your Chapter 13 payment plan. Your disposable income is the amount that remains after deducting allowed living expenses and mandatory payments.

Take your monthly income and deduct living expenses, priority debt payments, and secured payments. The remaining amount is your disposable income. You'd are responsible to pay this amount to creditors each month.

Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.

For an individual, gross income is your total pay, which is the amount of money you've earned before taxes and other items are deducted. From your gross income, subtract the income taxes you owe. The amount left represents your disposable income.

If the debtor fails the means test, the debtor can only apply for Chapter 13 bankruptcy. The purpose of the means test is to see that if the debtor is abusing the bankruptcy system by filing Chapter 7 bankruptcy cases even though they could afford to pay at least some of their debts.

After subtracting all the allowed expenses from your ?current monthly income,? the balance is your ?disposable income.? If you have no disposable income ? your allowed expenses exceed your ?current monthly income? ? then you've passed the means test.

When filing for Chapter 7 bankruptcy, you need to total up all of your regular monthly income and then deduct any expenses that the court requires. This will give you your disposable income.

More info

Download Form (pdf, 274. The commitment period is 5 years.Disposable income is determined under 11 U.S.C. § 1325(b)(3). 3. The commitment period is 3 years. 4. The applicable commitment period is 5 years. Disposable income is determined under § 1325(b)(3). Questions on the forms must be complete and accurate. Chapter 13 debtors are required to file a Chapter 13 Statement of Your Current. A Chapter 13 debtor must complete a plan within sixty months. Test (Official Form 122A-1Supp); or the statement of current monthly income in chapter 13 and calculation of commitment period (Official Form 122C-1).

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Hawaii Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period