6-Month Lookback Again

[screentest]

Should the 6-month look back, January - June include the first paycheck in July? July is the month I get paid 3 times and I thought only the paychecks received in the 6 months prior were to count.

My attorneys feel I need to include the first check in July because 1-week of it was earned in June; however, this will throw off the numbers for the look back.

I told my attorneys this was going to throw my numbers off by a significant amount. They said if if does then we wont use the July check.

Anyone know what is correct here??

Thanks
ST

[ssmdem]

Good question. I'm hoping to file in October and will be in the same situation as that is our three check month. I had planned to just file before that check came in so I wouldn't have to claim it. Can you file early enough in July to avoid it?

[ssmdem]

Dang it!! Guess I should have looked at a calendar before now. His first paycheck in October will be on -- no kidding - October 1st!!

So seriously though -if it's a six month lookback, I don't think you use that month though. Course, with us - that means using April (which was our other three check month.) - so I guess in the long run, it's all the same.

[keepinitreal]

My attorneys feel I need to include the first check in July because 1-week of it was earned in June; however, this will throw off the numbers for the look back.
ST

Will they exclude from your first paycheck in January the days that weren't earned in January? It seems they would have to be consistent and treat the first month (January) and the sixth month (June) the same.

[helpmeout]

I filed in February. I got paid on 2/2/10. The only paychecks that I need to provide were the ones that I received from the prior 6 months, with the last being the last one I received in January (well, they only wanted the first paycheck of each month, with all of the ones in February), they didn't ask for the one from 2/2/10 even though the pay period covered was entirely in January.

[gmk]

This seems to have been a tough year for many trying to fall under the median and having those 3 week pay months. We had the same thing in April that slightly pushed us over by one day at the end of the month. We then decided to file in April, over median and see where the chips fall, rather than wait until June when we were definitely under the median.

Well the UST declared us an abuse. However, on the same day he filed that paper ( a day or two after our 341) he filed another paper saying a finding of abuse wasn't appropriate. Whew!

The UST may make a habit of being a bit contrary to over median filers so, even if your timing sucks like ours did, if you can wait, I'd wait. If you can avoid the extra scrutiny, that's a good thing.

What's key here is that the 6 month look back is for the full 6 calendar months before the month you file in. We actually had two of those wonderful paychecks, one at the front and one at the end of our 6 months. Talk about timing.

Also to the OP. I'm not sure about the wisdom of trying to leave out paychecks unless your attorney can positively deal with it.

[SMinGA]

File in July, lookback for means test is Jan-Jun. From all I have read, this is pretty standard - though you may need to submit all stubs up to file date.

Have you paid this atty? That he doesn't seem to know how it works, would concern me a little.

[booboo]

When we filed, the look back was for the 6 months only. We filed on July 24 and my final July pay was July 23rd. The trustee only wanted Feb through July check stubs and a copy on my bank statement as it stood on August 1st. I believe you are OK.

BooBoo

[screentest]

Thanks to all,

I had strategically planned for a July filing so I would not have to include the three checks in July, only January through June. The January through June look back also elimintaes the three checks I got last December.

No matter when I file, I am going to be an over-the-median filer, it's just a matter of how much over. Adding that one check could change my numbers and eat up all my DMI.

My attorneys do not think this is going to be a problem and feel I have a clean case. They dont "anticipate" any 707 (b) challenges; however, it's my case not thiers. They get the fee and I get the worry!

If July has to count then I will have to push back my filing to September/October delaying this nightmare even longer.

ST