Spinoff thread---What happens if you get a promotion AFTER your 341?

[Stilltheone]

Kind of a spinoff question...

What happens if you receive a promotion after your 341 meet? If the promotion still puts your salary under the means test, does it matter?

[JollyGG]

Basically this is an area where you really shouldn't volunteer any information. If you get a pay increase keep quite about unless asked. It is unlikely you will be asked after the 341 so it really is unlikely to be an issue. Technically your bankruptcy estate is set the day you file. Therefore your promotion after filing is irrelevant to the bankruptcy. Now some trustee's do ask about changes to income at the 341 which is why it is usually recomended that you wait on job searches, etc. until the 341 is over. However, after the 341 you are in the clear. Earn as much additional money as you can.

In a chapter 7 bankruptcy, of course.

[Stilltheone]

My dh has been up for a promotion for awhile now. We're 100% positive he won't get it before our 341, but it's the "after" that has me worried.

Thanks!

[CindyLou]

depends on your trustee/district. Ask your attorney what information is required once you are cofirmed. Some trustees required that you report any income over XXX amount. Others don't care at all.