increased income after filing yet before 341 meeting

[bk883813]

I filed the 11/9/09. I stated my salary, but now going to receive a $8000 commission from sale during the month of November. It will be paid on 12/4/09 and my 341 creditor meeting is on 12/23/09. Any suggestions? I don't want to get caught not disclosing the income, but not sure it's even relevant since I'm being paid on it after the filing date. Thanks!

[Inpara]

If you have an attorney you need to let him/her know right away so they can give you advice on what you should do.

If you don't have an attorney, I would make sure to keep the money out of hiding and fully disclose the amount to the Trustee when you appear at the 341. Otherwise you risk getting caught with bk fraud.

[BobMango]

When was the sale that resulted in the commission? If it was after your filing date then I would think that's your money. If it was before you filed then it might be fair game for the trustee.

My understanding is that money earned after filing is all yours, but there are exceptions.

[bk883813]

thanks!

[berrymom35]

The trustee is only concerned with your six month look back. If you filed on 11/9 and the sale occured on 11/10, this money is not in your bk estate.

[CCsAreEvil]

The trustee is only concerned with your six month look back. If you filed on 11/9 and the sale occured on 11/10, this money is not in your bk estate.

If that's the case, then why do the trustees sometimes ask, "Has your financial situation changed?" (basically asking about the time between your file date and the 341)?

[berrymom35]

If that's the case, then why do the trustees sometimes ask, "Has your financial situation changed?" (basically asking about the time between your file date and the 341)?

Our trustee did not ask that...in fact she announced to the entire group off the bat that she was not concerned with anything received after the filing date unless it was a substantial inheritance. Maybe it's different in other districts?

[Dannmcg357]

I am not clear on this issue either. I want to begin building a savings but don't want that to look like fraud. Also I keep reading on here the trustee will look back 6 mo. My attorny told me the trustee will only look back 90 days? (Alabama).

[LimpDisc]

This forum can provide you with great information, but don't expect everything to be the same in your specific district.

[Dannmcg357]

That's what I thought, I shouldn't be surprised at the differences between states. This forum is the best thing by far, I certainly did not mean to sound ungreatfull. Lots of good people with experience and knowledge here.

[jjsmith]

I'm a real estate agent and am currently not working. My attorney advised me that the trustee will ask me if I have any commissions pending. He will ask if I had any properties are under contract that I will be receiving commission on, on the day of filing. Since, I'm not working I didn't bother ask the reasoning. I'm not sure if this is income they want included in your reports or if the trustee can seize the commission. My thought was that if I had commissions outstanding that the trustee would consider that like money in the bank that hasn't been spent and they could seize, but maybe I was wrong. I'm sure it depends on your district, but I think you have some risk if the sale you're getting a commission on occurred before you filed.

[SPalin]

For CA Eastern District the Trustee asks if your anticipating any settlement, commission or bonus in the next 180 days at your 341 hearing... it seems that different courts/districts have their own requirements.

[coolmom04]

For CA Eastern District the Trustee asks if your anticipating any settlement, commission or bonus in the next 180 days at your 341 hearing... it seems that different courts/districts have their own requirements.

Hmmmm... I wonder if they ask that in the NC Eastern District!

[tkharvey]

Our monthly income went up $2,000 from the time we filed to the 341. It wasn't an issue as they only care about the six month prior to your filing. Attorney told us it would not be an issue and it wasn't.

[SPalin]

Hmmmm... I wonder if they ask that in the NC Eastern District!

I think it is just a California thing...