Question about post discharge/closing windfall...

[FiledinMarch]

I filed chapter 13 in CA in March. I filed alone, without my husband, but as I understand it CA is a community property state. I had not been in California the required 2 years and had to use the Indiana exemptions.

I converted my case to chapter 7 voluntarily on September 18th, and just received my discharge/closing papers in the mail.

My husband (who did not file bankruptcy) is expecting a large bonus (Around 8,000-9,000) in April or May of this year. Mostly likely May.

My question is that since I filed in a community property state , does this have to be reported to the trustee?

Does the 6 month window of reporting start on the day you file bankruptcy or on the day your case is discharged??

If it is 6 months from the day I filed, I think I would be in the clear, with my 6 month window ending in March, is that correct??

Is this sort of bonus (That he will not officially earn until April of this year) even touchable by the trustee, or is it considered outside of the bankruptcy estate???

My husband will be livid if I tell him the trustee may want part of his bonus...

Hopefully someone will know the answer...

Thanks in advance!!

[keepmine]

[FiledinMarch]

[QUOTE=keepmine;131027]Your bonus is safe.[/QUOTE]


*Huge sigh of relief*

Thanks Keepmine, that's the best news I've had all day.

[Minnymouth]

The "catch" to all of this is "DID YOU KNOW THE BONUS WAS COMING WHEN YOU FILED CHAPTER 13 AND THEN REFILED A CHAPTER 7?????????????????

If you and your spouse knew at the 341 meeting that this bonus was coming and did not let it be known, then there could be complications, maybe. The fact that only YOU filed may be the "safe mode" that will protect it from the Trustee.....

Some of the other older members may offer some imput on this subject that are more knowledge about it...

Wouldn't hurt to discuss this with a BK attorney in a free consultation and see what they suggest......

I don't think you have a "problem", especially if you didn't know about it when you held your 341 and up until your discharge.
All income after you file, except certain windfalls, are not considered as part of your bankruptcy after you have filed.

Only Chapter 13 filers have to report increases in income after filing and after the 341 meeting....

Keep us posted.....

[FiledinMarch]

We knew it was a possibility he could get it, but there was also a possibility that he would NOT get it, because as I said previously he does not actually earn the bonus until April of THIS year. So I guess technically you could say no we didn't "Know" he was going to get it.

Thanks.

[FiledinMarch]

Plus, am I reading the law correctly? My interpretation is that even if I had KNOWN that he was going to be receiving the bonus at the 341,( Which I didn't) , He would have to receive it within 180 days of filing for it to be touchable by the trustee (which he won't ).

Thanks!

[FiledinMarch]

The bonus will not be coming in my name, the only way it would be found is if there were still someone monitoring my checking account or tax returns for 2008 , right ??

I don't think anyone would be monitoring the tax return I file in 2009.. My attorney has informed me I am not even required to submit a copy of the return I file this year...

[magyar123]

Since you already received your Chapter 7 discharge - it's over, done with. Your tax refund and your husband's bonus are past the you filing to discharge timeframe

[FiledinMarch]

Thanks.. Minny's response had me sweating..

But no, we didn't "KNOW" he was going to get it. It's in his contract that if he completes X, Y, and Z, he will receive this bonus.., but at the 341 he had only completed X...

[Minnymouth]

NO PROBLEM THEM.............. that bonus is SAFE..........ENJOY....