Salary earned but not yet paid

[tmoschetto]

I plan to file my Chapter 7 paperwork next week, 3 days before I get paid so that my bank balance is low. When the form needs 3 years of annual salary, do I need to indicate anywhere that I will be receiving salary for January on 1/15 or do I just list "no income yet received for 2010"?

I downloaded the NOLO book and everything else seems clear to me, but I'm just afraid to be wrong in not including my salary amount from my paycheck that will hit my account on 1/15, even though I will be filing on the 12th. I seem to remember reading the vacation accrued but not taken (so not yet paid) was an asset as well??

Thanks in advance!

[HHM]

In this narrow scenario, don't worry about it. For a single pay period, right before BK, trustees don't touch it. (most states have a wage exemption anyway, so that is why they don't really go after it). In fact, you actually want to file a day or 2 before you get paid.

Now, in the Accounts Receivable scenario, you can have problems. If you are business, and you have outstanding AR's, trustees can (and often will) go after any AR's that have not been paid and spent.

[tmoschetto]

Thanks for the speedy reply HHM! I've been lurking and reading everything on this site since the beginning of Dec., and between you fine people and the NOLO book, I am feeling pretty confident that I'll be able to do this w/o an att'y.

[AngelinaCatHub]

Thanks for the speedy reply HHM! I've been lurking and reading everything on this site since the beginning of Dec., and between you fine people and the NOLO book, I am feeling pretty confident that I'll be able to do this w/o an att'y.

With what I know now, and for what ignorance I came out of, I feel cheated in what my lawyer did for/to me. I could easily file pro se, and would be ahead for not making the untimely mistakes I had made.

If you have not been paid, you are in theory dealing with speculation. As HHM said you really don't have an Account Receivable as a private individual. 'Hub