Unemployed question....

[BROKENN]

My DH will be unemployed as of this week because we closed his biz.

The atty says that may cause an extension to our 341 but it is better to say "I am unemployed and looking for a job" than "I have a prospect". And an extension would be better......

Better? Has anyone had experience with this? He is looking for a job but I am looking at what may happen if not....

Thanks

[lrprn]

I'm sorry to hear you and your husband had to close his business

The atty says that may cause an extension to our 341 but it is better to say "I am unemployed and looking for a job" than "I have a prospect". And an extension would be better......

Your lawyer is absolutely correct.

He is looking for a job but I am looking at what may happen if not....

Ask your husband to postpone getting a paycheck from any job he may be offered until *after* your 341. That way if your trustee does ask if your finances have changed since filing, he can say exactly what your lawyer wants him to say rather than opening up the can of worms that your joint income might take a potential turn upward after you filed. (Your trustee won't care that it decreased after filing if you already qualified for Ch 7 - now with the job loss, you *really* qualify.)

[BROKENN]

Thanks! I really appreciate the advice. It makes sense......