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Chapter 7 income question

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    Chapter 7 income question

    I am highly concerned over the file of my Chapter 7.

    I have been procrastinating and putting this off for months and am making more money now that i was when I origianlly saw attorney.

    How is income figured in Indiana on a Chapter 7? Is it just the last 6 months? Is it year to date? Or exactly how is it figured?

    And I had to cash in a life insurance policy (big reason for hold up because I have to spend money). Does this count as income as well? Because it was for over 4k.

    I am single as well and last I reead the limit was 41K and some change I beleive.

    Trustee just looks at bank statement and paystubs for income?

    I need to get this filed as soon as possible.

    #2
    It is past six months for the means test, and they have a broad idea of what constitutes income. I am afraid that I don't know for sure if cashing in an insurance policy counts, but it certainly may.

    Comment


      #3
      Its the six full months before the filing date. If you file tomorrow, Dec 21, 2009 then the income is your total gross income from June 1 2009 thru Nov 30 2009. Income is a broad measure as the previous poster indicated.

      Look at this link to see what the median income is for your state. http://www.legalconsumer.com/bankrup...llName=Indiana
      Filed CH 7 9/30/2008
      Discharged Jan 5, 2009! Closed Jan 18, 2009

      I am not an attorney. None of my advice is legal advice in any way..

      Comment

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