I'm confused about income and expenses before and after filing

[hopefulbk]

Let's say (I'm going to be dramatic) my expenses add up to be like $3000 before I file and let's say my income was about $1000 per month before I filed. Obviously I'm in the negatives by A LOT. At the 341, doesn't the trustee ask if anything has changed? What if I start to make $5000 a month AFTER I file but my expenses stay at 3000.. now I'm positive 2K by the 341..

Now, my situation isn't this dramatic but I am starting a new job that is full time in 2 weeks. I haven't filed yet because I don't have the money. Since this is my first FT job in awhile, my income is going up a lot more than my PT income.

[liz417]

Okay, with your new income, does your expenses still exceed your income (new). If so, you might want to file soon because they look at the previous 6 months pay and having a fulltime job now may not really benefit you and might push you into a ch 13.

Plug your numbers in here: www.legalconsumer.com

[optimistic1]

each court/district/judge/trustee will rule differently on matters like this, this comes up quite a bit.



Some judges may rely on different required forms as guides in looking at the "totality of the circumstances" under 707(b)(3): Specifically Form 6, Schedules I and J. These forms also deal with income and expenses but can yield a different "disposable income" result than the means test form (Form 22A) because different things are allowed and excluded on each form.


An experienced BK attorney can advise you what exactly the preference is.

[hopefulbk]

Okay, with your new income, does your expenses still exceed your income (new). If so, you might want to file soon because they look at the previous 6 months pay and having a fulltime job now may not really benefit you and might push you into a ch 13.

Plug your numbers in here: www.legalconsumer.com

I still fit in the ch 7 category even with the new income. I just didn't know if it was better to hold off filing and wait until I had a paycheck or 2 so I can say nothing has changed by the time the 341 comes around or not. However, my new job is going to provide me with health insurance and it starts in 2 weeks (benefits are right away) so if I file next week, I still don't have health insurance and getting a policy can take a week or so since I haven't been covered in 3 years. I guess waiting might be best at this point..