income change

[bejam]

Our income has changed (lowered) since we filed. I work instead of my husband now. Do we have to report that before our 341 meeting in 2 weeks?

thanks,

bejam

[9877donna]

Our income has changed (lowered) since we filed. I work instead of my husband now. Do we have to report that before our 341 meeting in 2 weeks?

thanks,

bejam

I really don't think you have to worry about your change in income.The only income the courts will consider is the 6 months just prior to your filing BK.

[ConnieS]

You will have to report you estimated future income for determining your eligibilty for a 7 or to determine payments for a 13. If your income is going to be lower this could have a definite impact on the outcome of your 341

[SinkingFast]

You will have to report you estimated future income for determining your eligibilty for a 7 or to determine payments for a 13. If your income is going to be lower this could have a definite impact on the outcome of your 341

Yep!

New Law isn't simply about the "snap shot" of the previous 6 months, it's also about anticipation of the future.

If you're filing Ch 13, reduced income will have a direct effect on your plan payments.

Depending on the reduction in pay and the totality of your other finances, you may be able to file Ch 7 where with higher income you might not have been able to.

You need to contact your attny with regard to this reduction in pay.

[razorguns]

If it's a full-time job, salary and it's higher - it'll be taken into consideration *if* you volunteer that information.

You don't legaly have to - unless asked, which they probably won't.

Just like cops. Only say as much as you're asked. And since all was true on your bk papers when u filed - you're in the clear.

n