Personal Living Expenses

Electricity
Trash
Sew/Water/Septic
Gas (Home)/Oil
Phone
Cell
Internet
Food/Groceries
Cable
Dining Out
Work/School Lunch
Entertail1lnent
Clothing
Health Insurance
Doctors Co-Pay
Medications
Medical Equipment
Dental Insurance
Dental Co-Pay
Veterinary
Clubs, Sports & Hobbies
Life Insurance
Car Insurance
Gasoline
Auto Expenses
Taxi/Parking/Public/Transportation Contribution
Child Support
Child Care
Tuition/School Fees
Business Expenses/Union Dues
Beauty/Barber/Nails/Dry Cleaning
Other (Holidays, Birthday, Cigarettes, etc.)

Here we provide a list of general living expenses that you should take into consideration when planning for bankruptcy. If you are filing bankruptcy, these allowable living expenses, published by the IRS, could help the courts determine whether you qualify for Chapter 7 or Chapter 13.

This living expenses list contains typical living expenses that, when subtracted from your income, determines your amount of disposable income. Disposable income comes into play if your income falls above the state median, therefore requiring you to take a means test to determine whether you qualify for Chapter 7 bankruptcy.

While it all sounds complicated, we can clarify today’s bankruptcy law for you and help you through every step of the process, if we determine that bankruptcy is indeed the answer for you. You are not alone. Here at Harold Shepley and Associates we will do everything we can to assist you in achieving your financial freedom.