I am about to publish a novel.

[jingle47]

So my 341 hearing is tomorrow(not sure if that is relevant for my question, but if it is I will be glad I asked now).
I have been working on a novel for like 5 years now.
I am actually getting some strong interest in publishing and it is possible I could get an advance before my bk is discharged.

Is this something that I should make my attorney and/or trustee aware of?
What would happen if I held off the publishing contract until shortly after discharge? do I still need to make the trustee aware?

BTW, I did not know this was a possibility when I filed. Sort of fell into place in the last couple weeks..

Thanks in advance for your help.

[MrOwlEye]

It shouldn't matter if you receive an advance in the interim between filing for BK and having your debts discharged. I'm basing this on what my attorney told me when I filed Chapter 7. I'd known there was a possibility that I would land a fairly well paying job before my discharge. He said not to worry about it. The criteria were all centered on the situation at the time of discharge, not after that time.

[Shawshank]

If you haven't actually signed a contract, then I wouldn't say anything about it.
It would be different if you had a signed contract before you filed.
If you happen to sign the contract before your discharge, it shouldn't really matter and I wouldn't see the need to inform the trustee of it then either.
The only thing I was told to inform the trustee of is if someone dies and I inherit money in the next six months.

BTW - Congratulations if it works out for you!
What's the genre anyway?
I might want to buy a copy ;-)

[tigergem]

Congratulations! I hope that works out for you. I don't have an answer for your question, other than don't lie to the trustee. If you are asked a direct question, you should answer it truthfully. But wow, that is so very cool.

[music12]

the most important thing is: congratulations!

i agree with the other posters: you didn't get the advance before you filed, so it does not matter and there is no need to inform anyone.

if it were me, i'd wait with signing anything until after my discharge, but that's just my extra-paranoid voice. your fresh start started the second you filed, and anything you earn after that is yours and not part of the bk estate other than the inheritance exception.

so, i'm very happy for you and i hope some good fortune comes to me soon too and to the rest of the forum posters as well!

[Flamingo]

Whenever there is any financial issue that could arise during your BK process, consult with your attorney and don't play guessing games. You are not talking about a $10 gift card here, you could be talking major dollars and I would definately consult with your attorney to be on the safe side and protect yourself.

[jingle47]

thank you all for your advice....
Going to my 341 today. Might shed some light on what I should do....
Here is hoping for a very uneventful morning...

[researchmode]

How did it go?

[jingle47]

The 341 went perfectly. Trustee only asked a couple questions to verify information and nothing that I had to add to the info I already provided. Looks to be open and shut case.
AS I have said in other threads, my only concern is I have two potential windfalls coming in the next few months.
1) A advance on my novel
2) A potentially big Tax refund.

I think both of these amounts could easily be covered under my unused exemptions on Schedule C, but I did not know about either of them at the time I filed and I still do not know enough to feel the need to amend my schedules.

I almost feel like a kid again when dad would say "the fact that you broke the window was no big deal, if you had just come and told me about it I would have forgiven you and that would have been the end of it. But since you tried to hide the broken window from me now there will be consequences."

[MrOwlEye]

You should be fine. You fully reported your situation at the time of filing.

And there's a big, big difference between money, and money that might be coming.

[jingle47]

So just to clarify, after the case is closed is there anything that either Trustee can do if I suddenly have a big windfall of money?
(a windfall would be a nice problem to have I guess)
I just hear these horror stories of cases getting re-opened after they have been closed and I do not want a stupid tax return or my dream of publishing my novel to throw a wrench in things.
I want my fresh start to truly be just that.

[tigergem]

Well then, don't invite the trustee to your book signing. :-)

[marie]

Well then, don't invite the trustee to your book signing. :-)

good one !

[jingle47]

341 Meeting 2/23.
Trustee Posted notice of No Distribution on PACER on 2/25.
Now we hurry up and wait!

[Moneypenny]

hey congratulations to you. i slave at writing too and had a dream the other night my novel was published.

way to go!!!!