top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Income After Discharge

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Income After Discharge

    I've seen a couple posts about getting a bounus, or a winfall after filing or discharge. I filed 6/1, have my 341 7/15, and discharge date of 9/14. I'm barely making ends meat now, At what point can I work overtime and earn extra money if it becomes availb. Also we have a new contract coming and poss a retro check. Will this affect the discharge.

    #2
    assuming you filed ch7, you can start making more money any time after filing. money earned after filing is not part of the bk estate so does not affect discharge. some lawyers have advised posters here to wait until after the 341. but that's tomorrow for you. so hang in there another couple of days.


    also, earning overtime is hardly a windfall.
    filed ch7 May 09
    341 june 09
    discharged, closed Aug 09

    Comment


      #3
      That retro check could be an issue but it's highly unlikely it's significant enough to warrant concern.

      You could have been working overtime on 6/2.
      Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

      Comment


        #4
        Within a month after our discharge, my husband received a promotion....a LARGE one. 4 months after that, he received ANOTHER LARGER promotion. Had we gotten those promotions BEFORE our bankruptcy, we wouldn't have had to file.

        Now, we have no bills and have the larger income we've always wanted.

        Personally, I would wait until after discharge just to be safe. Good luck!
        Filed Chapter 7: 3-22-08
        341 Meeting: 5-15-08 It went great!!!
        Last day for objections: 7-14-08
        Discharged and Closed: 7-21-08

        Comment


          #5
          You will be asked at the 341 if you are expecting any 'windfalls', settlements from lawsuits, money inheritances within then next 180 days. So be aware of that if it is expected to be sizable.

          When we had our 341 on Feb 7, 2008, the Bush IRS Income Tax Stimulus program had just been announced. The trustee on our case, cautioned a woman in line ahead of us, not to cash her stimulus check, without checking with him first.

          In our case, we owe the IRS so much in back taxes, that we never even saw our stimulus check--it got sucked up before it could even get out the door.


          Good luck tomorrow. Be sure to have the DL and SS cards; anything your attorney told you to bring. Go to bed early. Leave for the 341 early enough that you don't have to worry about traffic, and parking issues.
          "To go bravely forward is to invite a miracle."

          "Worry is the darkroom where negatives are formed."

          Comment

          bottom Ad Widget

          Collapse
          Working...
          X