Nervous Please Help

[mgk3378]

Hello Everyone,

I will be filing Chapter 7 in early December. I have been currently PT for the last 7 months and have been offered to go full time starting in mid-December. The 341 meeting probably will not happen until early to mid January. My pay would change prior to the 341. What should I do? Is it likely they would do an inquirey on me prior to the 341? I would hate to pass this opportunity but blow my BK as well. Please advise..

-Mel

[doingpoorly]

Is this bump to full time a temporary holiday thing or a permanent move?

[BobMango]

Are you close on the means test? Will the full time job give you too much income to qualify for Chapter 7?

[mgk3378]

It would be perm. and yes it will increase our income substantially. I thought when you filed that is the data they take into consideration. Will they do an inquirey. We are in a very busy district (Chicago.) How will they know?

[mgk3378]

we are well over the median but have -600 in disposable.

[BobMango]

If you still show a deficit after figuring in the income from the new job then you can probably qualify for Chapter 7.

You need to speak with an attorney to get a better picture of your income and allowable expenses. I'd talk to a few and get their opinion.

[backtoschool]

I think if you are already over the median, and your income is going up prior to the 341, that you might be examined by the US Trustee, and could be kicked into a chap 13 if the extra income will make up enough of your monthly deficit.

Technically the six month look back period is six month prior to filing, but the panel trustee can ask you about changes in income at the 341.

[OhioFiler]

You are required to indicate on line 17 of Schedule I any increase in income anticipated in the next year.

Living in a "busy" district doesn't make the trustees or the UST less likely to pay attention to a former or future high income filer. The likelihood you'll be scrutinized is increased because of your high income.

I would suggest you submit your schedules reflecting the current (higher income) values or hold off on taking the position if you can.