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6-month lookback question

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    6-month lookback question

    Lost my job over a month ago. Got a severance package of about $10,000that was dated for the month of january, so I started receiving my full unemployment right after my separation date. BUT, the severance package is paid out over several months, up until about april. As far as the lookback goes, does that money get counted ONLY for the month of january when it was dated? Or do I have to count it in the month of feb. and mar. since that is the time when it actually hit my bank account?

    #2
    Ask your lawyer if you have one. That's what they are for. I'm sure someone will chime in though.
    Filed: 6-7-2010 341: 7-15-2010 DISCHARGED: 9/17/2010

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      #3
      I received a lump sum severance package. My attorney is withholding that from income as a "one time" event. He said that in one of the forms he has a place where he can list it but keep it out of the means/median income test. I also received some vacation pay but he will not withhold that (sure wish he would).

      I don't know how multiple payments over months would be handled?

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        #4
        Originally posted by gmk View Post
        I received a lump sum severance package. My attorney is withholding that from income as a "one time" event. He said that in one of the forms he has a place where he can list it but keep it out of the means/median income test. I also received some vacation pay but he will not withhold that (sure wish he would).

        I don't know how multiple payments over months would be handled?
        I'm pretty sure the six month look back is an average. It would not matter when you get what if you get zero the next months. 'Hub
        If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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          #5
          I was questioned about my back pay over 6 mos look back by UST and added them to sch I and J but on means test I still qualified for BK7 even they add a big chunk of back pay. Lawyer have to add an explanation in the schedule.
          File BK7: Jan 4, 2010
          Reschedule 341: Mar 16 2010
          Discharged: Apr 22 2010
          Closed: May 6, 2010

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            #6
            Originally posted by gmk View Post
            I received a lump sum severance package. My attorney is withholding that from income as a "one time" event. He said that in one of the forms he has a place where he can list it but keep it out of the means/median income test. I also received some vacation pay but he will not withhold that (sure wish he would).

            I don't know how multiple payments over months would be handled?
            Okay now I might start stressing that I have picked the WRONG attorney!! My husband finally received a legal settlement due to a union grievance in December, he was supposed to get it eight months before - not a huge amount but could push us into a Ch 13. Our attorney said it would have to be listed as regular pay in the last six months and maybe we should wait another 5 months to file to "blow it out " of the time frame. I pointed out that it was not income and definitely was a one time deal so I cannot see how realistically it can be used for income as he will never get it again.

            Does anyone else have experience with this?

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