The Nebraska Statement of Current Monthly Income and Disposable Income Calculation for Use in Chapter 13 — Post 2005 is a legal document that plays a crucial role in bankruptcy proceedings. It provides a comprehensive overview of an individual or a couple's financial situation, specifically their current monthly income and disposable income, which is vital for determining their ability to repay debts in a Chapter 13 bankruptcy. The statement includes several key components, each serving a specific purpose. First, the document outlines the debtor's sources of income in detail. This covers not only their primary employment income but also any additional income from sources like rental properties, investments, and spousal or child support. Secondly, the Nebraska Statement of Current Monthly Income addresses the calculation of the debtor's disposable income. Disposable income refers to the funds that remain after subtracting their necessary living expenses from their current monthly income. These expenses typically include housing costs, utilities, transportation, food, clothing, healthcare, and childcare. The statement also considers any ongoing expenses related to secured debts, such as mortgages or car loans. These secured debts are given priority over other unsecured debts during the Chapter 13 repayment plan. Additionally, the Nebraska Statement of Current Monthly Income might include information about an individual or a couple's average monthly payments to priority unsecured debts, including tax obligations and domestic support obligations. It is important to note that while the content of the Statement of Current Monthly Income and Disposable Income Calculation may vary depending on specific circumstances, its purpose remains consistent: to assess the debtor's financial situation accurately and determine their eligibility for Chapter 13 bankruptcy. Different types of Nebraska Statement of Current Monthly Income and Disposable Income Calculation for Use in Chapter 13 — Post 2005 may include modified calculations for joint debtors who file together, additional schedules for specific types of income sources or expenses, or adjustments based on current financial circumstances. Overall, the Nebraska Statement of Current Monthly Income and Disposable Income Calculation for Use in Chapter 13 — Post 2005 serves as a crucial tool in the bankruptcy process, ensuring fairness and transparency while helping debtors navigate their way to financial stability.