Bonus before 341

[nervousbker]

I got a bonus before filing but it will show on the paystub I must present at the meeting. Will this cause a problem?

[AngelinaCatHub]

Depending on the amount, yes it will. Remember once you file your whole world is owned by the Trustee. He may claim this bonus as an asset and distribute it to your creditors.

This has been asked before as to the timing. Perhaps some other arrangement could be made to forestall this but you must be honest in all ways. Even if you shove it into an IRA after filing it would be perceived as hiding the funds and the Trustee could recover it.

Again, depends on the amount how much? 'Hub

[nervousbker]

Bonus and the 341 meeting

What do they do with the pay stub at the 341? Someone else I know BK'ed and they didn't ask for one.

[BKDefender]

I had a married couple client come to me two months ago for a chapter 7 bankruptcy. Their income put them at about $2k over the limit for our area. The husband's job was commission only and during the two months for them to resolve some other issued, his income dropped to where they were below the median income in Nevada.
Two days before filing his wife received a bonus that put them over the median income. I had to do the full means test but they still passed so they're good anyway, but a bonus does throw a wrench in the plan if you're close to the median income of your area.

--William