A Lot over Median Budget Question

[dovette7]

Hello to all.
I expect to be filing Chapter 13 within the next 2 weeks. Meeting next week with attorney to get cross t's and dot i's on everything.

I asked the attorney this question but still wasn't clear so hoping someone here could help.

My husband alone makes well over the median in our state (Georgia) I was in real estate the last 2 years and did terrible compared to the two previous years (one reason we're in this position) I only made $15,000 last year. My last commission check was in September for $7500. Since that is within 6 months, does that income count as part of our income in the budget??? I have since gotten out of real estate b/c I cannot take the up's and downs and the slow market.

I understand the last 6 months income determining over/under median. I just hope that that commission check averaged over the last 6 months won't be considered part of currant income in our budget.

Any help would be appreciated!
Thanks

[gunsmoke]

dovette7

Wait a couple of more months to file. That comm. check is income. Better safe than sorry.

[lrprn]

I understand the last 6 months income determining over/under median. I just hope that that commission check averaged over the last 6 months won't be considered part of currant income in our budget.

So sorry, Dovette7, but that $7500 commission check you received last September will count as income in your six-month-look back. Is there some reason you and your husband can't wait to file until after the six-month mark passes in March/April?

[SinkingFast]

Yeah,.......... You'd really need to wait until April to be safe. The way the Court does the look back on income, it can really be nearly 7 months of time, depending on when, in a month, you file. If it's late in the month, it'll be nearly 7 months of look back.

Your commission check was in September. If you file in April, the Court will want to see pay stubs for any income earned in April, plus March, February, January, December, November, and October pay stubs. Odd, but that's how they work.