This form is for post 2005 act cases.
Nassau New York Statement of Current Monthly Income and Disposable Income Calculation for Use in Chapter 13 — Post 2005 is a legal document used in bankruptcy cases to determine the debtor's ability to repay their debts under a Chapter 13 bankruptcy plan. This statement helps in evaluating the debtor's income, expenses, and disposable income, ensuring a fair repayment plan is established. The Statement of Current Monthly Income requires the debtor to disclose their average monthly income from all sources, including wages, salary, self-employment income, rental income, pension, Social Security benefits, and any other form of regular earnings. This specific information is crucial for calculating the debtor's disposable income accurately. When preparing the Disposable Income Calculation, the debtor is required to deduct certain expenses, such as taxes, health insurance premiums, and certain secured debts, from their current monthly income. The remaining amount is considered the debtor's disposable income, which will be used to determine the repayment plan under Chapter 13 bankruptcy. In Nassau New York, the statement may have different variations, including: 1. Individual Statement of Current Monthly Income and Disposable Income Calculation — This form is used when an individual files for Chapter 13 bankruptcy. 2. Joint Statement of Current Monthly Income and Disposable Income Calculation — If a married couple files for Chapter 13 bankruptcy together, they will need to complete this form, disclosing their combined income and expenses. 3. Updated Statement of Current Monthly Income and Disposable Income Calculation — If there are significant changes in the debtor's income or expenses during an ongoing Chapter 13 bankruptcy case, this form is filled out to reflect the updated financial situation. It is important to note that these forms must be completed accurately and honestly, as any intentional misrepresentation can lead to legal consequences and potential dismissal of the bankruptcy case. Seeking professional legal advice from a bankruptcy attorney or consulting bankruptcy court resources can help ensure compliance and accuracy in filling out the Nassau New York Statement of Current Monthly Income and Disposable Income Calculation for Use in Chapter 13 — Post 2005.
Nassau New York Statement of Current Monthly Income and Disposable Income Calculation for Use in Chapter 13 — Post 2005 is a legal document used in bankruptcy cases to determine the debtor's ability to repay their debts under a Chapter 13 bankruptcy plan. This statement helps in evaluating the debtor's income, expenses, and disposable income, ensuring a fair repayment plan is established. The Statement of Current Monthly Income requires the debtor to disclose their average monthly income from all sources, including wages, salary, self-employment income, rental income, pension, Social Security benefits, and any other form of regular earnings. This specific information is crucial for calculating the debtor's disposable income accurately. When preparing the Disposable Income Calculation, the debtor is required to deduct certain expenses, such as taxes, health insurance premiums, and certain secured debts, from their current monthly income. The remaining amount is considered the debtor's disposable income, which will be used to determine the repayment plan under Chapter 13 bankruptcy. In Nassau New York, the statement may have different variations, including: 1. Individual Statement of Current Monthly Income and Disposable Income Calculation — This form is used when an individual files for Chapter 13 bankruptcy. 2. Joint Statement of Current Monthly Income and Disposable Income Calculation — If a married couple files for Chapter 13 bankruptcy together, they will need to complete this form, disclosing their combined income and expenses. 3. Updated Statement of Current Monthly Income and Disposable Income Calculation — If there are significant changes in the debtor's income or expenses during an ongoing Chapter 13 bankruptcy case, this form is filled out to reflect the updated financial situation. It is important to note that these forms must be completed accurately and honestly, as any intentional misrepresentation can lead to legal consequences and potential dismissal of the bankruptcy case. Seeking professional legal advice from a bankruptcy attorney or consulting bankruptcy court resources can help ensure compliance and accuracy in filling out the Nassau New York Statement of Current Monthly Income and Disposable Income Calculation for Use in Chapter 13 — Post 2005.