I have a question

[Topaz]

We will be filing our chapter 7 this coming Friday. I was wondering...they have recently cut my hubbys hours at work. If say, in a few months they pick his hours up again will that reflect on our bk as more income? How long do they moniter our income? Months, years? Once we go to court to meet with the trustee? Or when the BK is over?

Thanks in advance, Topaz

[anonymuse]

The means test is based on the average 6 month income prior to filing.

At the 341 meeting you will be asked whether you anticipate any changes in income.

[Topaz]

Ok, so your saying once we file or meet with the Trusetee they no longer watch income, assets, and bills? Unless maybe there were an objection from a creditor? Sorry still learning here.

Topaz

[FilingOnMyOwn]

After the 341 you're relatively safe, as long as your case is solid. Nothing much to worry about, it would take a significant windfall after the fact for them to pursue you or even find out about it in the first place. Technically your case can be reopened within a year of closing, but its very rare.

The trustee will ask at the 341 if you are anticipating an increase in money as mentioned above. In this case you cannot confirm or deny your husband's future employment scenario, so you may answer with honesty that your financial situation remains uncertain and there is no guaranteed money coming your way.

[aa06a47]

We will be filing our chapter 7 this coming Friday. I was wondering...they have recently cut my hubbys hours at work. If say, in a few months they pick his hours up again will that reflect on our bk as more income? How long do they moniter our income? Months, years? Once we go to court to meet with the trustee? Or when the BK is over?

Thanks in advance, Topaz

If your filing a Chapter 7, future income has little meaning unless it is a large windfall from an inheritance, lotter win, or whatever, and that is only valid 180 days from filing your petition.

You will be asked if you expect an increase in income, if the situation is the same, the correct answer is no, there is nothing that guarantees OT nor any reason to expect it will return. If you say yes, hubsands OT will come back and we will get 30% more, the trustee will probably object and push you into a chapter 13 plan. I definatly would not tell you to lie, but unless there is some document that says, starting June 10, we will go back on 10 hour shifts 6 days a week, you can truthfully answer the question no.