Backpay

[liboton21]

I am going to file Chap7 this month but when I look at my earning statements I had a backpay of 12K but after tax I only got 7K in May this year. I am over the median but qualified the means test. The money was gone due to car repair (replace engine), wife's dental expense and kid's tuition fee. I live in Riverside, CA, now, when the UST look at the past 6 mos history will this will be a flag to deny the Chap7? Or should I wait in December to file? I already stop my paying my 4 creditors this last month and ignoring all their calls. Thanks in advanced.

[1969classic]

I had a one time retention bonus at the end of June which put me over median as well, my attorney has advised me to wait until first part of January since the lookback at income is 6 months. I have already stopped paying my creditors as well, my attorney will start taking all their calls upon receipt of first payment to him next week.

[OhioFiler]

I had a one time retention bonus at the end of June which put me over median as well, my attorney has advised me to wait until first part of January since the lookback at income is 6 months. I have already stopped paying my creditors as well, my attorney will start taking all their calls upon receipt of first payment to him next week.

Many will continue to call you.

[1969classic]

Well thanks for that, at least I will know what to expect as I move forward in my "wait" to actually file in January. That's what I have a $20 answering machine for.... have a good one!

[liboton21]

I had a one time retention bonus at the end of June which put me over median as well, my attorney has advised me to wait until first part of January since the lookback at income is 6 months. I have already stopped paying my creditors as well, my attorney will start taking all their calls upon receipt of first payment to him next week.

If you file in January, will the UST see your bonus if they asked for your 2009 W-2's?

[liz417]

The look back period is the previous 6 months, since it's such a large amount I would wait it out. I had a bonus in Feb (not nearly as big as your bonus!) and 5 out of the 6 attorneys I met with wanted me to wait for the bonus to drop off in Sept. Ultimately I knew that this bonus really didn't effect my numbers because I was still in the (-) neg. on my schedules, but I was over the median. I filed in May and everything worked out fine. There are 6 Trustees in Riverside and I heard (this was a question I asked all 6 attorneys I consulted with ) that only one of them is "tough".....

Good Luck!