Future Income

[hughewil]

If I file in November of this year, will they look ahead to see if they can take future income?

The company I work for is doing well and next March I will probably get some kind of bonus. If I file in November will they plan to take any bonus I get next March?

[nc73]

If I file in November of this year, will they look ahead to see if they can take future income?

The company I work for is doing well and next March I will probably get some kind of bonus. If I file in November will they plan to take any bonus I get next March?

?????? You'd be discharged by that time. So why worry?

[hughewil]

I guess I am wondering if during the BK process can the trustee look at projected lump sum payment and garnish them, kind of like they can take a tax refund.

[newbie2]

I guess I am wondering if during the BK process can the trustee look at projected lump sum payment and garnish them, kind of like they can take a tax refund.

No. NO. Unless it is an inheritance or a lottery winning within 180 days of filing the trustee does not control your future finances in a Chapter 7.

[nc73]

Unless it's guaranteed, I wouldn't mention it.

[hughewil]

Unless it's guaranteed, I wouldn't mention it.

Not guaranteed, it is a company performance bonus that various depending on how well the company does each year. This year it was a few hundred, a couple of years ago a few thousand, once it was 0.

[gmk]

The correct answer is that you just don't know. In this economic downturn, many companies are foregoing all types of bonuses that used to be considered expected. You simply don't know if or what you may receive. TBS, I hope you receive an outrageous one. Enjoy it.