Adding Creditor to Ch 7 after 341 mtg?

[J Armstr]

Hi,

I filed Ch 7 on 6/8/2005 and had the 341 meeting 7/18/2005. Our case has not been closed yet.

What happens if I add another creditor? Does it take longer for the case to close?

I am in a real crummy job and if I leave before 2-years is up I have to pay them $17K. I want to list my employer as a creditor. Just recently got a job offer (pays less than my current job) and I plan on quiting in the next 6-weeks.

Thanks!

[HHM]

What kind of job is it that you have to pay them if you leave early?

Generally, yes you can add a creditor any time before your case is discharged. Whether this particular debt can be discharged, is another question.

[J Armstr]

It would be the relocation and sign on bonus.

[HHM]

You can always add them as a creditor, but it would be an interesting issue to see if that debt can be discharged, off the top of my head, I don't know; but under the circumstances, I think your employer might have a pretty strong claim that their debt cannot be discharged and you will still owe them after the BK.

[J Armstr]

I agree! Thanks.

I never signed any sort of agreement, but I know that in itself doesn't release me from this terrible, terrible job.

The relocation is a 1-year agreement and the bonus is a two year committment. The letter of offer just says one year of relocation to pay back monies associated with relocation. Not quite sure what relocation means. I relocated to the job a week before I started, but didn't close on my house until a month after I started--lived in temporary housing.

[Minnymouth]

That's pretty expensive relocating charges....I'm assuming most of it is "bonus" for relocating....then the cost of moving, etc is included also. Then if you quit within 2 years- it all has to be paid back to the company.
Well, expect the Trustee to ask "where did the bonus go??". What was it used for? Receipts?? So be prepared!

And don't be surprised if you end up paying it all back....
How bad is this new job....?? Can you bear it till the time frame is up??

Think about this.................file bk, include the job issue as a creditor....and see what happens. If you end up having to pay it back, try waiting out the time period (no matter how painful), save as much money as you can during the BK process. And within no time your BK will be over, job time will be over (and you don't have to pay all that back regarding job), and you can DO YOUR THING somewhere else......and will have the extra cash to do it with from your savings during the BK process.

Keep us posted as to what you do,

Minny

[J Armstr]

Thank you! I will definitely keep ev1 posted.

My one year on the relocation is up 9/27/2005. I will definitely meet that. My last day witht he company will be 9/29/2005. I was told the company spent $30K on the relo. Real hard for me to believe. It was for the transportation of my household goods and flying my family and I to the new job.

The bonus has a 2-year agreement and is worth $17K. I won't make 2-years. This job has changed my outlook. I need to leave. After tax, the $17K was reduced to $9K in my pocket which was all put into my house as a downpayment. I only have $6K equity in our house.

[hhou812hh]

This is certainly a difficult area. Since they are not a secured creditor and you didn't incurr this debt on the eve of filing you would think it was just an unsecured debt. I however read "Bankruptcy for dummies" (the little yellow book) and they stated in a section of the book that a rock star of some sort tried to break his contract with the record company by using the bk laws and he couldn't do it. I don't know if your agreement falls into this since it's an agreement and not really a debt.

What ever happens good luck to you!! We all know those crummy jobs all too well.

[J Armstr]

Oh well!

At least I will make the one year on the relocation.

$17K is exactly what the trustee let me have in my 401k. I guess I know where that is going.

[Pinktiger]

I thought retirement plans were untouchable.

$17K is exactly what the trustee let me have in my 401k. I guess I know where that is going.

How can they touch your retirement?

[J Armstr]

I am referring that I can at least pay back the bonus money.

[Minnymouth]

Don't pay it back yet, let them sue ya!!! DUH, how's it going to ruin your credit - your already in BK.....
$30,000 to MOVE YOU..............Sure you didn't take a month's vacation in Hawaii on the way?????
Thats an expensive mover!!!!

Have your lawyer really look into this - who know? - maybe it can be included in BK.....

May the luck of the Irish - turn in your direction....

Minny

[rst6pac]

are there any special tricks to amending your mailing matrix ? my case was filed in 2 of 2006 341 in march in april i found a couple of creditors that got missed. I asked the court clerk and she gave me a form to sign said to just write out the creditors on a sheet of paper with amendment to matrix on the top and return with $26 did that, today pacer shows that papers and mo are being returned can anyone tell me why?

[SinkingFast]

Our attny said he can add any Creditor within the 90 day period after filing. That's the 30 days to the 341, and the 60 day Creditor Objection period.

Even if you filed BK on Feb 1, 2006, and added the Creditor on April 30, 2006 (which isn't possible as that's a Sunday, so move to May 1, 2006 instead), you're within the 90 days.

Maybe those Creditors have charged off the balances or turned the accounts over to collections??!!

Will be interesting to see if others have had this experience and why.

[aa06a47]

I do not understand you, you filed nearly a year ago, why has your case not been dismissed in a year? I doubt you can add a creditor at this point. See an attorney.