Part Time Job Before Filing ...

[newlife2007]

Hi Guys !1

My wife and I are currently in a waiting period before we file. We are trying to get as much time between our last charge (July 28th) and the date that we file.
We also have some small Cash Advances that happened in June so we are putting as much time in the middle as we can !!
We are planning a mid November filing.

I do have a question :

We are currently well below the income level for a family of 4 in Massachusetts. That figure is over $80,000 and we are around $55,000. We have met with a lawyer and we are a simple No Asset Chapter 7, once we file.
I am self employed and have had a down turn, so to say, in business for the last couple months. It is getting difficult to pay the mortgage and all living expenses ( even without forking over about $3500 in CC minimums each month ) !!
I have been looking for a part time job and have found one.

If I take this part time job now and add some income for the next two months before we file, will that have any effect on our bk ??
The added income will in now way take us even close to the allowable income in our state. It may add on about $1200 gross income /month ( Maybe $15,000 /year ... Still well below median ).
We plan to keep our house and I think the added income will actually help us to prove that we can afford it !!

Your Thoughts ....

[lrprn]

If the part time job in no way jeopardizes going over the median in MA, then go ahead.

Another option to consider for the next two months (Oct and Nov) is to pay only the non-secured creditors that are involved with the cash advances and charges to free up more immediate cash for your secured debts. Your trustee may decide the payments are preferential, but that will be between your trustee and the creditors. It won't affect you at all. Ask your lawyer if this is a possible strategy while you wait to file.

[JRScott]

So long as it doesn't jeopardize you're filing status I'd say it was okay.

The best way to know is take the amount you expect to make in the past 6 months at the time of filing including what you would expect to make there and double it. Then check it against the median income. If you are still well below you should be okay .