Live Chat
During This Challenging Time

We are open for business and remain dedicated to your case! All those working on-site and remotely are still available to answer your questions. The well-being of our clients and staff are vital, so we will provide updates as the situation progresses.

During This Challenging Time Close

Overlooked Bankruptcy Debtor Expenses

January 16, 2013

The Bankruptcy Code requires the debtor to file an accounting of average monthly personal and business expenses. The total monthly expenses are compared to the total monthly net income as one indication of the debtor’s ability to repay debts. Consequently, it is important to accurately identify all monthly expenses or risk complications in your bankruptcy case.

Fixed expenses, like a car or house payment, are easily identified. The same goes for variable expenses, which can be averaged over a six month period. These expenses include utility payments or transportation expenses. Discretionary expenses, like entertainment, clothing, and food are usually under-estimated. However, the category most overlooked is annual expenses. This category includes doctor co-pays, home owner association fees, and property taxes. It is recommended that the debtor review records and make an estimate based on a yearly average.

Below is a list of expenses you may not think about when completing your bankruptcy paperwork:

Personal Care
Salon/hairdresser or barbershop
Hair products
Shampoo, conditioner, toothpaste, personal care, etc.

Vehicle Expenses
Annual registrations
Regular inspections and maintenance
Oil changes
Car washes

Health / Medical
Glasses and visits to optometrist
Contact lenses and solutions
Co-pays for prescriptions and office visits
Prescriptions and over the counter medications, allergy remedies, aspirin

Dependent Care Expenses
Diapers, formula, day care
Annual school expenses, books, backpacks, etc.
School uniforms, expenses for sports
School lunches
Summer camps, childcare in summer

Home Care and Maintenance
Lawn care or snow removal
Computer supplies, paper, ink refills, toner cartridges
Home alarm fees

Financial Expenses
Bank charges (monthly checking account fees, ATM fees, etc.)
Tax preparation fees
Legal or accounting fees

Pet Care Expenses
Pet food
Veterinary visits
Heart worm or other medications
Annual pet license fees

With your input and assistance, your attorney can help you identify expenses and structure your bankruptcy schedules to avoid complications in your case. Bankruptcy is a powerful legal tool, but it requires a joint effort from you and your attorney to achieve the best result.

var lpMTagConfig = {‘lpServer’ : “”,’lpNumber’ : “12879226”,’lpProtocol’ : (document.location.toString().indexOf(‘https:’)==0) ? ‘https’ : ‘http’}; function lpAddMonitorTag(src){if(typeof(src)==’undefined’||typeof(src)==’object’){src=lpMTagConfig.lpMTagSrc?lpMTagConfig.lpMTagSrc:’/hcp/html/mTag.js’;}if(src.indexOf(‘http’)!=0){src=lpMTagConfig.lpProtocol+”://”+lpMTagConfig.lpServer+src+’?site=’+lpMTagConfig.lpNumber;}else{if(src.indexOf(‘site=’)<0){if(src.indexOf('?')<0)src=src+'?';else src=src+'&';src=src+'site='+lpMTagConfig.lpNumber;}};var s=document.createElement('script');s.setAttribute('type','text/javascript');s.setAttribute('charset','iso-8859-1');s.setAttribute('src',src);document.getElementsByTagName('head').item(0).appendChild(s);} if (window.attachEvent) window.attachEvent('onload',lpAddMonitorTag); else window.addEventListener("load",lpAddMonitorTag,false);


Use the form below to send us a note, call us at 214.890.0711 or chat with us live. We are eager to help with your legal needs. Please keep in mind that any unsolicited information sent through our website cannot be treated as confidential. Contacting us through this site does not create a representation relationship with Fears Nachawati.

Contact Us


With offices across Texas, and attorneys licensed in Texas, Florida, Arkansas, New Mexico, California, Illinois, District of Columbia, Missouri and Oklahoma, Fears Nachawati is dedicated to attaining the best possible solutions for our clients’ business and personal needs. We strive to be professionals who are creative, empathetic and reliable.

All Areas Served

We Can Help

Contact Fears Nachawati today

Free Consultation

Live Chat (Online Now)