Potential Dilemma?

[danaf]

Would this pay increase put you over the median for filiing a 7?

And if you are going to go out and buy a new car, perhaps - that monthly payment will just about cover the increase?

I would definately make some payments on the cash advance - no less than 3 and preferably 6 but it's sounding like you are wanting to file sooner than a 6 mos timeframe.

[PaKettle]

Would this pay increase put you over the median for filiing a 7?

And if you are going to go out and buy a new car, perhaps - that monthly payment will just about cover the increase?

I would definately make some payments on the cash advance - no less than 3 and preferably 6 but it's sounding like you are wanting to file sooner than a 6 mos timeframe.

I had 2 cash advances of around $5k each. Made one payment on each one and had no objections. I DID wait over 6 months before filing, though. Still, I just don't know that it's worth the banks' time to object to anything under $7-8k. It's a fine line. Maybe, maybe not.

[Logan]

The determination for chapter 7 is supposed to be a 6month look back so a small pay raise may not affect your chapter 7. Talk with your attorney since he/she probably knows the trustee and should have experience with this.

[seanf12]

I am already over the median income without the pay raise, so not really a factor there. However, I passed the mean test with my current income and show negative income on schedules I & J. I think your right...my car payment is now $263/month which would offset a large chunk of the pay increase, plus my attorney hadn't factored in my auto insurance expense. I have had a lawyer told me that they probably won't ask about any changes income, and it's only an issue if it's more than 10%.

My lawyer recommended we make no less than 3 payments on the cash advance before filing, so I am hoping she is right