Do you expect increase/decrease of income/ expenses and Carnac The Magnificent

[bornfree2]

These speculative questions on Income (106I) and Expenses (106J) remind me of the late,great Johnny Carson Carnac The Magnificent

• 106I.#10- "Do you expect an increase or decrease [of income] within the year after you file this form?"
• 106J.#24- "Do you expect an increase or decrease in your expenses within the year after you file this form?"

Objection. Calls for speculation!

Almost everyone ive seen on Recap puts NO here. Yes, these are the same 'i have 3 cars, many bank accounts with listed money, but not a single penny in cash when I file."

Yet common sense tells us that inflation ALWAYS affects future expense...and income will always not be exactly the same as of declared in the filing date (money received, person layed off, bonuses, etc)

This question appears to be there to leave an open door to the creditors/trustee to either catch someone in a lie or have grounds to reopen their case to revisit it

I suppose putting 'no' would mean you dont expect it, yet if it happens, you are not Carnac The Magnifcient to have known the future.

[justbroke]

This is why you hire an attorney that knows the purpose of this question. It's not to speculate on inflation or deflation. It actually doesn't even do anything really. The purpose is to provide if there is a "known" condition that will change a number. An example is that a debtor may list $2,000 in taxes per month, but expects it to increase in the next 6 months because they will no longer have the benefit of claiming a child (or spouse).

You are reading too much into that question. Speculating is one thing... I "think" that there will be 3% inflation.. is much different than... "I know my housing may change because I'm moving to another city". Since Schedule I/J are forward looking it can help show the reader why the numbers may not reflect pre-petition numbers.

The question is not a commentary on consumer prices, speculation about maybe losing a job, or bonuses at all. Bonuses are already factored when looking "backwards" and you would average them going forward unless you know, with certainty, that they'll increase or decrease. Fortunately for me, my employer always writes that bonuses are not guaranteed until paid. So there's no speculation, but simply a hope. That is not what this question is asking.

More than 99.99% of people will answer this question in the negative.

[bornfree2]

Fortunately for me, my employer always writes that bonuses are not guaranteed until paid. So there's no speculation, but simply a hope. .

Whatever your employer is paying you, it should be much more. Seriously, you would make a great judge. thanks for the clarification.