increase in income after discharge

[blaze]

what would happen in we had an increase in income after our discharge? we had no idea another job opp. would come up so we truly did not anticipate any increase in income - and i think it would happen (if it happens) after our discharge - we are expecting it in the next month. what happens after your discharge - do the trustees check up on you in any way? are we obligated to notify the court of any increase? it would be a 10K per year increase and put us over the median for our state. just wondering - it's not certain yet but it's a great opportunity and we'd hate to pass it up when we are trying so hard to get back on our feet - - and another chance like this may not come along.

[magyar123]

Once discharged and case closed you can make as much as you want. Once discharged you have no further obligation to tell the trustee anything.

[blaze]

well that would be good! -can anyone tell me what is the difference between discharged nd closed? How long after your discharge is your case closed?

[lrprn]

what would happen in we had an increase in income after our discharge? we had no idea another job opp. would come up so we truly did not anticipate any increase in income - and i think it would happen (if it happens) after our discharge - we are expecting it in the next month. what happens after your discharge - do the trustees check up on you in any way? are we obligated to notify the court of any increase? it would be a 10K per year increase and put us over the median for our state. just wondering - it's not certain yet but it's a great opportunity and we'd hate to pass it up when we are trying so hard to get back on our feet - - and another chance like this may not come along.

Most Ch 7 lawyers will tell you that after your 341 is over, it's ok if you make more money.

In Ch 7 your bankruptcy estate is set on the day you file. The reason that lawyers want you to wait until after your 341 is because your trustee could ask during the meeting if your income has increased since filing. After your 341 unless your increase is income is somehow widely publicized, your trustee isn't going to go looking into your case before discharge unless there's a compelling reason to do so.

The large majority of non-asset Ch 7 cases will be discharged within 90-120 days after filing.

[blaze]

Ok - that all makes sense - I did get a part time job between filing and 341 and we WERE asked at the 341 if anything hd changed and I had to say yes. That was OK - I told the trustee I got it temporarily b/c one of my kids had to have surgery and it was going to be to pay the medical bills - It was the truth and verylittle money and he said that was fine.
This is different - we truly had no idea until this week when DH was approached for a job he did not seek out. Thanks for your comments big boy - that is something to think about what you said about someone wanting to cause trouble b/c this job is in the same industry as the company we owned that went down the tubes and accounts for a lot of debt we are discharging. So we will watch for the discharge and wait. And remember what yousaid about paperwork and dates. Thanks for the input - everyones' replies help me think through this stuff!

[PaKettle]

Your bankruptcy case is usually closed right after its discharged - sometimes on the same day, other times a week or a few weeks later.

You can make a million dollars after you are discharged, as long as you didn't know you were going to be making it before your 341.

The whole idea of bk is to get a fresh start. You don't have to remain poor forever! ;-)

[Cassiopeia]

Your bankruptcy case is usually closed right after its discharged - sometimes on the same day, other times a week or a few weeks later.

You can make a million dollars after you are discharged, as long as you didn't know you were going to be making it before your 341.

The whole idea of bk is to get a fresh start. You don't have to remain poor forever! ;-)

Great post! How true it is......

[keepmine]

My bk was closed 3 days after discharge.