income doubles before 341

[goingunder]

Just wondering if we messed up. We filed 10th and stated our income was the amount it was, but since then , hubby has decided to see how many hours he can put in in one day,everyday, and work daylight to dark on saturday too. So we got double that amount for income now. Our disposable showed 8 dollars left over, before this. What will happen now? Granted we are still way under the median income for our family size. This is all a big nightmare, and im to the point i really dont care anymore. I wish we had never filed and just could have made it work. I am so tired of worring bout every penny i spend and what the trusee will think of that, and such. Well, any advise ? thanks

[ilovemycaitybug]

I don't think it will be a big deal, since it's only temporary and won't really solve your problems long-term. You'll get through this. We're in about the same boat, timeline-wise. It's definitely stressful, but no one said it would be (or should be) easy. See my signature below... LOL! It's true! I haven't really paid TOO much attention to what I spend, but I normally just buy gas, groceries, eat out since I live 30 miles from my work, and other necessities. I've bought several items of clothing for my daughter on eBay for spring but that's really about it. I hope that won't cause me problems, but people still have to buy things to live a normal life. Sorry for my ramble... LOL... but I think you'll be okay!

[SinkingFast]

If he usually, seasonally works extra, and you're still under the Median, I don't know that you have anything to worry about. The fact that he's worked OT in the past would be reflected on your prior years' income tax returns anyway.

It's not like you can budget for living with the extra on a monthly basis. You never know when you will or won't have that money.

Kinda like our neighbor who works construction. When the weather is good and there's plenty to do, it's nothing for him to work 12-14 hour days. But if it rains, he may not work for days, a week, 2 weeks.

If we have a mild winter, he gets to work off and on thru the winter. Normally tho, he doesn't work for at least 2-3 months. This spring, they weren't able to get back to work as early as usual because of the unseasonally cold weather.

[Mynameis]

I was talking to a credit counseler last week and I thought she told me they do not include bonus'/commissions or overtime in your stated income.

I could be totally wrong though...
sorry.

[lrprn]

I could be totally wrong though...
sorry.

The credit counselor you talked to is wrong. *ALL* earned income counts into your six months prior income when filing bk, and that includes bonuses, commissions, and overtime.

[CATCHMEIFYOUCAN]

GoingUnder

Just wondering if we messed up. We filed 10th and stated our income was the amount it was, but since then , hubby has decided to see how many hours he can put in in one day,everyday, and work daylight to dark on saturday too. So we got double that amount for income now. Our disposable showed 8 dollars left over, before this. What will happen now? Granted we are still way under the median income for our family size. This is all a big nightmare, and im to the point i really dont care anymore. I wish we had never filed and just could have made it work. I am so tired of worring bout every penny i spend and what the trusee will think of that, and such. Well, any advise ? thanks

They already have a snapshot of what you make. I wouldn't worry about it and don't make an issue of it at the 341. I had 2 full time jobs. I dropped the day job (7am-3pm) and kept the night job (930pm-6am) just so I could convert to Ch7.

I immediately picked up Overtime and continued to work pooooop loads of overtime (30-40-60-80 hrs every pay period). IN FACT not that it matters NOW, I just hit close to 100 hours overtime last night! The Trustee never asked for proof of income or bank statments once I converted and my 2nd 341 meeting for converting to Ch7, I didn't volunteer anything (you know!).

Best of Luck, CatchMeIfYouCan

[CindyLou]

Just to be safe, I would cut out the OT until after the 341!! Some trustees require current check stubs at the 341. Ask your attorney!

[CATCHMEIFYOUCAN]

Yeah better be safe than sorry. I worried a bit with pulling the overtime before my ch7 341 meeting, but that was my risk. I'm amazed to hear alot of stuff happening to folks that didn't and probably should of happened to me. Guess I got lucky, WHO KNOWS !

Good Luck, Catch Me IF YOU CAN !

[demismom]

Our attorney sent a letter with the petition for us to look over and in the letter it said to be sure to keep all paystubs up until the day we file because they will need them.

[tressa]

Three weeks after we filed, i went out and bought a new dishwasher, 4 new tires for my truck, and new clothes for my 2y/o. We were never questioned about anything. I wouldn't recommened doing what we did, but we needed to get rid of extra money we had from income tax and our lawyer said it was ok because everything except the dishwasher, were all necessities. Dishwasher was only 400 and that money wouldn't have put a dent into the money we owed.

[aa06a47]

Definatly wait until after the 341 meeting to bust ass and make more money. It may not push you into a chapter 13, but if trustee gets wind of it, it could delay your chapter 7.