Good and bad dilemma.. job wise.. now what?!

[hopefulbk]

I've been waiting to file Ch 7 until July mainly to stall the foreclosure process and keep searching for employment. Well I interviewed on tues and they said they would have an answer in about 1-2 weeks. I get a call today and accepted the position- I don't start for 3 weeks. If I file now, my 341 meeting will be when I just started at my new job and will have to tell of my job success. If I wait to file, then my income levels change and I might look like I am better able to afford the bills. REGARDLESS, I am still below the median income. Now I don't know what to do. My situation is good and bad at the same time! My "expenses" are already right at that point of my new salary but instead of being $500+ in the hole, I'll be like $10 in the hole (my expenses do NOT include any debts I am getting rid of).

Another question: Do they look at gross or net pay when looking at expenses? I have no control over taxes being taken out of my check.. does this count?

[LuciluS]

Chapter 7 income is based on the previous 6 months Gross Pay, not including the month you are filing. For instance, we will be filing on 9/30/09 and we will be using our Gross Income from Mar. - Aug 09.

When you get your new job you will be required to fill out a W-4 which we requires you to state Married or Single and how many dependents you are entitled to. For example, Hubby's W-4 states he is Married and claims 1 dependent, which is himself. He could claim 2 dependents, but I receive Social Security Disability and there are no taxes deducted from it. These dependent #s are for Federal and State. Social Security, 6.2% deduction and Medicare 1.45% are deducted from your Gross Pay.

I believe these taxes are an allowable expense, but I haven't gotten that far in the packet I received from our Attorney. Since I don't have taxes deducted from my SSD, it's a question to ask my Attorney if there is a % allowed for taxable expense.

Luci

[hopefulbk]

Anyone else happen to know any info?

[StartingOver08]

Go ahead and file since you have a job lined up. Take the job! Its a good thing. As has been pointed out, it is the 6 months prior to filing that count for your income.

They look at gross pay, but there is a place to deduct for your taxes on the schedules.

Really it sounds like you have all good news! Congratulations on your new job!