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The Griffin Law Firm
The Griffin Law Firm, Attorney
Category: Bankruptcy Law
Satisfied Customers: 51
Experience:  Member of NACBA and ABI
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For the purpose of filing for bankruptcy in California calculating

Resolved Question:

For the purpose of filing for bankruptcy in California calculating the last six months average salary, if I received a vacation payout by my company because they were bought out during the last 6 months
Can I prorate that amount since the date I started accruing it which is 6 years ago instead of having the whole chunk added to my salary for that month?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  The Griffin Law Firm replied 6 years ago.
The key is to be able to show a rational basis for supporting the numbers you used. What you describe makes sense because it is not an accurate indicator as to what your current monthly income is. First, the trustees I encounter would not challenge your qualification for a chapter 7 if that is the lone factor disqualifying you, given the logical explanation you present. Second, the means test is actually a three part test--the first is simply do you make less than the median income for your household size based on the last six months. The second part allows you to deduct certain items like taxes, mortgage payments, etc. to see if that sufficiently lowers your income. As a third and last resort, one can show special circumstances as to why they should still be allowed to file chapter 7.
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