Not sure how to handle this

[zenspan]

My boyfriend filed a Chapter 7 recently and his 341 is scheduled the very beginning of January. He has a full time job, but has also had a company for 12 years that went kaput during the end of his marriage.

He has the oppty to sign a business contract that will begin paying mid to late January. The income from the contract would put him over the threshhold for a Chapter 7.

Does he need to disclose this at his 341 hearing or should he just contact his atty and switch to a Chapter 13?

[keepinitreal]

Since he's already filed, he just needs to disclose to his attorney and follow the attorney's advice.

The income threshold for qualifying for Chapter 7 is based on the previous 6 months income.

[tcreegan]

Hi zenspan,

Whatever he does, it is a MUST that he discuss it w/ his attorney. His atty should know the correct way to handle this in his BK court, w/ his trustee. Properly handled, probably not a problem. Drop the ball and it might land in a big pile of doo doo....

Tom in Colo

ps: tell him congrats on getting a contract in this economy, maybe things are finally looking up...