chance for one-time income

[vegas911]

wife & I plan to file 13 (maybe 7) as soon as we get the money together.

I'm in Nevada.


I'm employed, but also do some self employed work. I have a chance to do some work for a client that is a one time thing. Is this income (could be $5,000.00) still averaged with the last 6 months or is some special consideration made for this case?

I know with 7 after discharge, it's a non-issue.

[rrockinggramma]

I would say yes for a chapter 13 if the work is done prior to filing and you are paid prior to filing

[lrprn]

I have a chance to do some work for a client that is a one time thing. Is this income (could be $5,000.00) still averaged with the last 6 months or is some special consideration made for this case?

If you earn the $5K within the six full calendar months BEFORE you file, then yes, it does count as income (and will skew your real income figures since it's a one-time event). There's no consideration made for one-time income - ask any filer who is paid on commission or is self-employed with very irregular income. This is one of the most unfair parts of the current bk law, but thanks to the 2005 Congress, we're stuck with it.

However, if you wait to do the $5K job AFTER you file and have your 341, then you're home free.