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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2501
Experience:  Better Business Bur 15yrs bankruptcy experience. Chicago Bar
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I recently filed for bankruptcy, using a paralegal. He, unfortunately,

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I recently filed for bankruptcy, using a paralegal. He, unfortunately, was not very accurate with some of the info. and refused to change it, saying that since the listed average monthly income was over ($1800 when it is actually $1525) there should be no problem. Is that true or should I amend this? Another attorney said to submit another Schedule I with the new numbers only with amended written on the top. Sound right? Do I need to amend the other pages with monthly income listed? Also, do I mail these amended papers to the trustee? If so, if they get to his office 6 days before trial date, rather than the 7 days requested for the tax return will that be a problem? And, do I submit a standard floppy disk with these amended pages to the court? Just getting a second opionion. Thanks, Mike
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 5 years ago.
Yes, you can file an amended schedule I to update your actual monthly income. You do write amended at the top. As a courtesy, you can send the copy to the trustee. Amendments do not need to be in at any certain time, and can be done at any time during the case. You can bring an extra copy to the 341 and provide it to the trustee and explain the changes. Also bring your proof of income to the meeting so the trustee can compare. You do have to file them with the court. If the court requires you to file them on a diskette, then do so. Normally, they are filed electronically. The clerk's phone # XXXXX XXXXX your 341 notice, you can call them to confirm the format of the amendment (disk, hard copy etc.)
For chapter 7, showing lower income shouldn't affect the case. if your budget is a wash either way, then there is no real issue. If you need to reaffirm a secured debt, you will have to show the court that you have enough income to afford the monthly payment. Other than that, lower income won't affect a chapter 7. If you are in chapter 13, then as long as your budget can support your proposed plan payment, then it should be fine as well.
Customer: replied 5 years ago.
Do you think it is necessary to file the amendment or will the court look at it as a wash as you mentioned and not be concerned that it's a little over actual income? Also, if there is say $21 left over at the end of the month after expenses is that okay or is it best to be in the red? Thanks, Mike
Customer: replied 5 years ago.
Do you think it is necessary to file the amendment or will the court look at it as a wash as you mentioned and not be concerned that it's a little over actual income? Also, if there is say $21 left over at the end of the month after expenses is that okay or is it best to be in the red? Thanks, Mike Also, I forgot to put the case # XXXXX the fed tax form sent. Will that be a problem? The paper from the trustee didn't mention that the case # XXXXX be included.
Expert:  Terry L. replied 5 years ago.
I would file the amendment just to be safe. Better to have accurate info on there. The trustee should be able to figure out who the tax return is for, but i would bring a copy with you to the 341 meeting just in case.
You can have a little left over, you don't need to be in the red. if you are reaffirming debt though, it is best to be in the black by at least a couple of bucks to show the court you can afford the payments.
Customer: replied 5 years ago.
Do I only put the changed numbers on the new schelule I? And I don't need to change any other pages that have the schedule I numbers? Thanks, Mike   
Expert:  Terry L. replied 5 years ago.
I would fill out a complete schedule I, it's not much.
Customer: replied 5 years ago.
I don't need to change any of the other pages that have the monthly income on it? Thanks, Mike
Expert:  Terry L. replied 5 years ago.
no, I should be sufficient.
Customer: replied 5 years ago.
Thank you. I'll have to pay Monday or so. Sorry for the delay! Mike
Expert:  Terry L. replied 5 years ago.
Ok, thanks for the update. I wish you the best of luck. Feel free to come back if you have any other questions! Thanks
Terry
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2501
Experience: Better Business Bur 15yrs bankruptcy experience. Chicago Bar
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