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bk income question


jr1129
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We are going to have to file bk no way around it. Of course would prefer chap 7. Question is my husband fell and has 2 broke arms, surgerys etc. With only my income we are well below the means/income level, even with his we were right about at the cut off. I want to go ahead and file before we get sued because some of these cc have'nt been paid in 6-7 months. But my question is will the court make us wait until he goes back to work which we are probably looking at 4 more months minimum. He is getting no type of disablity at all and in fact if he is not back to work in 2 more months he will loose his job. I am thinking we should go ahead and have a consult with a lawyer but any thoughts on what the courts will do with our future so uncertain?

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I know we will be under the income level for the past 6 months I guess what I was thinking of is if they ask do we expect our income to change. I think I have read in these threads that it is asked. So yes at some point we do expect it to change but we do not know when or by how much.

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What they seek with the question of anticipating income increases in the future is trying to see if there is something predictible that might preclude a bankruptcy. Then they might help holding off the creditors until that income improves.

Since you don't know when (or if) DH might be going back to work, or if it would be in the same line of work, then there is nothing definitely predictible for the future. To try to give the court a specific amount within a specific time frame would only be "speculation", not facts. So don't be afraid if that question is raised. You can't really "anticipate" an improvement in income, you only hope for same.

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What they seek with the question of anticipating income increases in the future is trying to see if there is something predictible that might preclude a bankruptcy. Then they might help holding off the creditors until that income improves.

Since you don't know when (or if) DH might be going back to work' date=' or if it would be in the same line of work, then there is nothing definitely predictible for the future. To try to give the court a specific amount within a specific time frame would only be "speculation", not facts. So don't be afraid if that question is raised. You can't really "anticipate" an improvement in income, you only hope for same.[/quote']

Good answer. If you expect to be coming into a bunch of money soon, or DH has accepted a lucrative job offer to start 3 months from now, they want to know that. But "we're hoping DH finds a job/goes back to work soon" is open-ended, and no guarantee of income. Your financial future is uncertain.

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