disposable income
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
From 560 U.S. 505 - Hamilton v. Lanning · 2010Most cited · 143 citing opinions
current monthly income received by the debtor," excluding certain payments received for child support, "less amounts reasonably necessary to be expended" on three categories of expenses.
United States Code
11 U.S.C. § 1325 — under this chapter (4 versions over time)
For purposes of this subsection, the term “disposable income” means current monthly income received by the debtor (other than child support payments, foster care payments, or disability payments for a dependent child made in accordance with applicable nonbankruptcy law to the extent reasonably necessary to be expended for such child) less amounts reasonably necessary to be expended—
(A)
(i) for the maintenance or support of the debtor or a dependent of the debtor, or for a domestic support obligation, that first becomes payable after the date the petition is filed; and
(ii) for charitable contributions (that meet the definition of “charitable contribution” under section 548(d)(3)) to a qualified religious or charitable entity or organization (as defined in section 548(d)(4)) in an amount not to exceed 15 percent of gross income of the debtor for the year in which the contributions are made; and
(B) if the debtor is engaged in business, for the payment of expenditures necessary for the continuation, preservation, and operation of such business.
11 U.S.C. § 1191 — for purposes of this section (2 versions over time)
For purposes of this section, the term “disposable income” means the income that is received by the debtor and that is not reasonably necessary to be expended—
(1) for—
(A) the maintenance or support of the debtor or a dependent of the debtor; or
(B) a domestic support obligation that first becomes payable after the date of the filing of the petition; or
(2) for the payment of expenditures necessary for the continuation, preservation, or operation of the business of the debtor.