Living Expenses in Bankruptcy

When determining what your basic living expenses are in bankruptcy, you will list your expenses plus any dependent expenses you incur on a form to be submitted to the court.

• Rent or mortgage payment
• Utilities
• Gas
• Heating fuel
• Electricity
• Tv
• Cell phone
• Internet
• Home maintenance
• Food
• Clothing
• Laundry and dry cleaning
• Medical and dental expenses
• Transportation
  -Vehicle insurance
  -Maintenance
  -Registration fees
  -Public transportation
• Recreation, entertainment, magazines, newspapers
• Charitable contributions
• Disability or life insurance
• Taxes
• Alimony, support of others
• Child support for those not living in your home
  -Childcare
  -Clothes
  -Books
  -Entertainment
• Farm, business expenses (only if you own the business or farm)
• Other expenses
• Educations expenses for your children
• You or your spouse education
• Miscellaneous personal expenses

The court may not approve all of these expenses. A judge may suggest you cut back on your education to get a job, for instance.

Bankruptcy

Listing your expenses will help to determine what type of bankruptcy will best suit your needs. Also, this list will help determine what if any “disposable income” you have for the purpose of paying back debt in Chapter 13 or eliminating debt in Chapter 7 bankruptcy.

A Hidalgo County bankruptcy lawyer who understands the law will help you navigate through the paperwork required and help you determine the best course of action for you to take to get a fresh financial start.