Nothing is more important in bankruptcy than the monthly budget. Your budget determines if you qualify for chapter 7 bankruptcy, or if chapter 13 bankruptcy, determines your monthly payment. The challenge, is that many people facing bankruptcy don't really have a detailed account of how they spend their money.
So, Matt Berkus, has provided this Expenses worksheet to help clients identify their expenses and aid them in capturing expenses for schedule J of the bankruptcy petition.
This worksheet will also aid those with tax debt in completing IRS Form 433-A, Collection Information Statement, as the worksheet uses the same category headings.
Disclaimer: this worksheet is not a substitute for legal advice and counsel in determining proper expenses for bankruptcy or tax resolution. No representation is made that all the categories listed on the worksheet are allowable under the bankruptcy code or internal revenue code. The worksheet is intended to help individuals categorize their actual expenses and learn how they spend their money.
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