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New Forms No 122 - June - 2010

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The document outlines the release of new legal forms by IRIS Laserform in June 2010, enhancing their Adoption, High Court, Landlord and Tenant, Legal Services Commission, and Matrimonial form ranges. It includes details on specific forms added to each category, changes in tenancy deposit regulations, and instructions for requesting quotes for these forms.

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How to fill out form 122A-2?

Line 1: Copy your total current monthly income. Line 2: Did you fill out Column B in Part 1 of Form 122A1? Line 3: Adjust your current monthly income by subtracting any part of your spouses income not used to pay for the household expenses of you or your dependents. Line 4: Adjust your current monthly income.

What disqualifies you from Chapter 7?

An individual cannot file under chapter 7 or any other chapter, however, if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtors willful failure to appear before the court or comply with orders of the court, or the debtor voluntarily dismissed the previous case after creditors

What is considered income for bankruptcies?

Your figure should include not only your wages, but also rental income, child support, alimony, pension or other regular monthly income. Social Security income does not count.

What income is used for Chapter 7?

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 much is too much income for Chapter 7?

If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and dont have the option of filing Chapter 7.

What is the disposable income test for Chapter 7?

To calculate disposable income for Chapter 7 bankruptcy, subtract your allowable household expensessuch as rent, utilities, transportation, and medical carefrom your total income. The remaining amount is your disposable income, which is evaluated during the Means Test to determine your eligibility.

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