"Does anyone owe you money"

[CatsInTrouble]

Ok, so does the trustee ask this? My lawyers paperwork does. I'm not sure how to answer: yes, I've done work and people haven't paid me yet, but our agreement/contract dictates WHEN they pay me. And it can often be months away.

So do they "owe me" right now? Right now, no. In general, yes.

If I say yes, does the trustee take that future income?
Or, even worse,
Will they count it in the 6 month look back income? Because it WAS earned in that 6 months.

[OhioFiler]

In Ohio 75% of EARNED but unpaid income is exempt so the trustee could take 25% but one could also wild card the balance. Check your state's exemption rules.

It certainly doesn't affect your 6 month income calculation.

[Flowers]

I have money owed to me.
my lawyer suggested not to offer that fact.
I was only asked at the 341: do you expect an inheritance in the next several months? and : do you expect a personal injury settlement in the near future?

[OhioFiler]

I have a small claims judgment against a company I worked for previously.

I was advised by my attorney that the trustee will "step into my shoes" and may try to collect from them. If the trustee decides it's not worth pursuing then I can resume collection efforts myself after the discharge.

As I write this I wonder if there is a way for me to exempt this asset other than with a wildcard.

I don't really care who gets the money so long as that company has to pay it!

[StartingOver08]

If you have anyone that owes you money as of the filing date, the Trustee wants it. The most typical instances are loans (note payable to you) or receiveables (you sold them something and the payment has not been made yet). It is right on the petition.

This can become problematic if you have a continuing contract that is paid out in installments (phases). I don't know if the Trustee would have the right to go after funds that are due you if you have not yet completed a phase. That's a good attorney question.

[wonkettegirl]

I was asked if anyone owes me money, and I think your attorney can advise you how the trustees in your area view your situation. My attorney told me that if I did work for someone and they owe me money for it, it would count as an asset.