Salary May Change.......opinions Please
I am going to be refiling a Ch. 7 bankruptcy in August. There is a "chance" that my employer wants to give me a promotion, which means a salary increase. This increase would make my earnings a little bit more than double what I am earning now. This would certainly force me into a CH 13 if I take the promotion now. However, what if I take the promotion after I file? Do I have to notify the trustee? Should I wait to take the promotion after the discharge? Do income changes have to be reported during that 180-day rule? Also, I'm not actually making that much more. I am working part-time and earn around $20K. This full time position with the promotion will have me earning around $45K. That little extra would be nice to save and put towards a house and retirement.
You are required to truthfully list your income at the time your case is filed. You are required to answer the Trustee's questions at the Meeting of Creditors truthfully, and the Trustee usually asks if there have been any changes in your income since you filed. Some trustees require you to update this information until your discharge. I strongly recommend discussing this issue with your attorney. He or she can tell you how best to proceed.
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