Chapter 7 - After filing, before hearing. Questions?!?

[alo]

Once you file for chapter 7 and receive your 341 hearing date, what is your status? Or rather, what will the trustee look at or look for that might disrupt your case?

Can we sell an asset for a little extra income to pay bills? Like a sofa or a computer?
Can I accept another job with higher pay? Or a second job without effecting my status of 'below the median' income.

What happens if I receive a bonus during this time? Or commissions from a sale?

Some of these things can never be truly counted on coming to fruition but I'm a hopeful person. What if I did win the lottery?!?

[LadyInTheRed]

The trustee is looking for hidden or understated income or assets and to insure you are eligible for a Chap 7 discharge and not inflating your expenses to pass the means test. He could object to your discharge if it looks like you have sufficient disposable income to fund a Chap 13. He could object to your exemptions if he believes you have undervalued assets.

Do not sell any assets without checking with your attorney.

Accepting a job should not effect your filing. Your eligibility for a Chap 7 discharge is based on your financial situation on the date you filed. If you accept another job, let your attorney know about it and ask whether you should mention it if the trustee ask if there have been any changes since you filed your petition. Same goes for a bonus or a commission earned on a sale that occurred after you filed your petition. If you receive commissions on sales that occurred before you filed your petition, the commission should have been listed as an asset. If not, let your attorney know about it right away.

If you win the lottery with a ticket purchased after you filed BK, then the money is yours to keep.

Generally, other than an inheritance, if something could not be "truly counted on coming to fruition" at the time your petition was filed, it is not relevant to your eligibility for a Chap 7 discharge.

Sounds like you are worrying too much. If your petition is accurate and your income was under median in the 6 months before you filed and your income had not already been guaranteed to be higher on the day you filed, you have nothing to worry about.