341 done, but with small glitch(owed wages)

[DebtZombie]

OK, not a glitch as much as an unexpected circumstance. Sailed thru fine otherwise.

So, the trustee mailed me a form to fill out, sorta like a summary, not on a US BK form. I was to bring it to the 341. On there it asked for any wages, exempt and non-exempt that I was OWED at the time of the filing. Which was a few days before payday(no choice on timing). So I put down the amount for 7 working days as non exempt. Now I owe a nice little chunk of money . I screwed up, I know , at the least I should have put NET not GROSS. Now I think I need to call them trustee and find out how to undo at least some of this.

Pacer shows the agreement we signed at the meeting agreeing to 5 payments which will be turned over to creditors.

Anyone know any rules about OWED wages at the times of filing?

[DebtZombie]

wanted to add that this was a question, and I could not change my subject header to indicate that.

[btbeme]

The difference between your gross and net is...what? Taxes only? Insurance? A garnishment?

Income taxes taken from your paycheck that could or will be refunded when you file your 1040 will likely be considered income. Retirement, insurance, and so forth generally would not be considered income, so if those add up to a large amount then it might be worth a call to the Trustee. But amending your filing will cost you, too. Weigh it all out first.

Do you need that cash to pay your necessary and exempt bills (and can you prove that)? That adds some weight to your case.

Tom in CO - can you lend some experience to a Colorado question?

[debee]

I read your post, googled your state exemptions and according to a couple of lists that I just looked at, you should be able to exempt 75% of your earned but unpaid earnings OR 30x federal minimum wage (whichever is greater) according to Colorado Code 13-54-104.

[free2breathe]

OK, not a glitch as much as an unexpected circumstance. Sailed thru fine otherwise.

So, the trustee mailed me a form to fill out, sorta like a summary, not on a US BK form. I was to bring it to the 341. On there it asked for any wages, exempt and non-exempt that I was OWED at the time of the filing. Which was a few days before payday(no choice on timing). So I put down the amount for 7 working days as non exempt. Now I owe a nice little chunk of money . I screwed up, I know , at the least I should have put NET not GROSS. Now I think I need to call them trustee and find out how to undo at least some of this.

Pacer shows the agreement we signed at the meeting agreeing to 5 payments which will be turned over to creditors.

Anyone know any rules about OWED wages at the times of filing?

Not so much about the rules, but our trustee did ask me for the NET wages due at the time of filing. In our case, I filed just before payday, so we had to surrender 25% of his entire paycheck. The trustee asked about wages owed, I handed him the pay stub, stated that it was all owed at the time of filing, and I had to point to the net wages for his computation. Did you have to provide a copy of the pay stub to your trustee? Also, did you have to pony up the cash right then? Nevermind that, I see you got a payment plan. It's late, I'm tired and missing things Our trustee said they could take the balance out of our tax refund if we couldn't pay it now.


edit: (I see debee has found the rule for you. woohoo debee!)

[free2breathe]

Just found this: http://www.legalconsumer.com/bankruptcy/laws/
Listed under Colorado:

Wages

Minimum 75% of weekly net earnings or 30 times the federal or state minimum wage, whichever is greater, including pension and insurance payments

[debee]

I have insomnia so I looked up some more and grabbed this from a lawyer's website: net income defined in this context is income left after legally required paycheck deductions (e.g. FICA) are taken out. No other deductions or costs, no matter how necessary or whether they are mandated by contract or employer policy, are considered. As a result, most income will be “net income.”

NOTE: You got that net f2b, woohoo!

[DebtZombie]

woohoooooooooooo, so .........gross minus taxes, divided by number of paydays, multiped by days actually worked not paid for yet, then shave 75% off.........OMG! Thats awesome! Way less now!

I will call the trustee on Monday and see which form I will need to turn in, and will be sure to reference the code#

This is like a secret society where only those lucky folks IN the know, get to KNOW the stuff! hahaha, did that make sense, its COB Friday at work and I'm exhausted.

[tcreegan]

Who needs me when debee is around ?! You nailed it, CRS 13-54-104

Gross minus taxes and health insurance deductions = 'disposable' earnings.

75% exempt, 25% to the trustee

OR

7.25 fed min wage x 30 = 217.50 $217.50/week exempt, weekly wages over $217.50 goes to trustee

You use whichever gives less to the trustee (best for you)

Hope this helps DebtZombie!

Tom in Colo

ps: I must not be in the secret society that knows....what is COB friday?

[DebtZombie]

Oh shoot, didnt realize I could minus HEALTH insurance too! Even better!!!!!

COB is Close of Business.


THANKS ALL!

[tcreegan]

COB is Close of Business.

ahhh...I'm an old farm boy, thought it had something to do with corn...

[DebtZombie]

ARGHHHHHHHHHHHHHHHHHHHHH

OK, so I called the courts and they were no help.

My question is simple.

So, under CRS 13-54-104, 75% of the earned wages before filing were exempt.

Was i supposed to place that monies on Schedule C along with my other exemptions? I did not. Nolo didnt mention it and the pre-typed page didnt have a spot for it, so it never occured to me. Trustee has a separate Colorado form that asked for earned wages before filing and I, like an idiot, didnt think and just put the whole shebang as UN EXEMPT. Would amending schedule C be enough? Do I need to call the trustee or something too???

OR

Do I do something the lady at the court said.... and just handtype my objection on a piece of paper and file it with the courts as a "motion" or rather a response to the trustee's mortion for turnover. The judge signed the thing within like a day, so I had no time to rebutt it BEFORE she signed what is now an "order".

Help me save like $900 folks if you can!

[DebtZombie]

bumping for advice, please and thanks

[free2breathe]

My suggestion would be to follow the court clerk's advice and file a response. I'd include a copy of your pay stub and an explanation that you miscalculated the amount of wages earned but not paid. Then include your calculation of the net wages due, include the calculations showing what 25% of that would be. Good luck, hope they will fix it for you.

If you have a Pacer account, follow this link, click on "84". That will link you to Pacer and you can have a look at their response. Granted, they have been ordered to turn over something different, but you can get the idea about what your response should include. I hope this helps.

[DebtZombie]

need more help on this..............................................


I filed a response on 11/18 to the court to re-configure the amount I owe for turnover, as I figured it wrong.

The original trustee order had a due date for the 1st of 5 payments for this week.

Since they received my response, and if you ask me had ample time to review it, should I mail in the payment?

or just watch PACER for a response? I also mailed a copy to the trustee, should I call him?