How do Judge calculate monthly income

[GGupta]

I believe they want to look at last 6 months of income..
If that's the case, how do they look into last 6 months of income..
Is it via the last 6 months of pay stub..
The reason I am asking is that my company usually gives me tuition fee for this year in Dec. So, my Dec paycheck will be huge.. I am only planning to file for BKruptcy in March-April (assuming I dont get money by then)..
So asking if the pay stub of Dec is going to matter.. Note that, My income from now till March will likely remain the same except for the tuition reimbursement in Dec pay stub...

So, I was thinking if March income will be the counted for last 6 months of avg pay.. Also, I am planning to maximize my 401K for Nov and Dec as I believe those will be safe if and when I file for bkruptcy (likely in April time frame) so last three months will be good..

Let me know

[LimpDisc]

Regardless of what day you file in any given month the income is based on the previous 6 months. If you don't want the December income to be used you would need to file in July 2010.

[GGupta]

So, the income is before taxes and retirement contribution? can I increase my retirement account contribution if income is after the contribution (The contribution is NOT mandatory)..
I am trying to reduce my savings from bank by increasing 401K contribution for the month of Dec?

how do they verify income? Via Paystubs? or just asking last month's income..

[BNKRPTinNC]

Paystubs

[LimpDisc]

Yes, it's gross income.

Not sure about maxing out your retirement contributions.

Search 401k in these forums and you'll probably find plenty of posts.

[klandsb]

I was reading on another thread somewhere that the trustee objected because the client did the exact same thing by maxing out the 401k contributions just prior to filing when in fact there other paystubs during the 6 mths didnt reflect that...You might want to seach other threads here or ask your attorney..