Posted on: 25th Aug, 2009 12:03 pm
I've filled out an online means test and I have a question. Will my payments on school loans and 401k loans qualify as an expense that will be deducted from my bottom line disposable income? Does a trustee allow room for those payments?
Hi Guest,
As far as I know, the repayment of a 401(k) loan and student loans can be a debt obligation for you, but they are not considered as a necessary expense for bankruptcy purposes. Thus, the means test expense categories do not include allowances for student loans or loans against retirement plans.
As far as I know, the repayment of a 401(k) loan and student loans can be a debt obligation for you, but they are not considered as a necessary expense for bankruptcy purposes. Thus, the means test expense categories do not include allowances for student loans or loans against retirement plans.