Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.
Your wife's income goes on Schedule I and on form 22A (Statement of Current Monthly Income and Means Test Calculation), even though you will be filing on your own.
At the bottom of Schedule I, you would indicate the fact that your wife's income will be changing within the year after filing.
Is this what you wanted to know?
I did forget to mention that she did cash in a 401k that of course was heavily taxed and of course had outragous fee's,do I also have to add that in?Most of this we did spent on medical bill's.
Was the 401(k) in your wife's name only?
Also - you said you would be preparing and filing own. Did that mean your wife will not be filing with you?
she will be filing with me
Was the 401(k) account closed?
The closing of the account goes on line 11 of the Statement of Financial Affairs (SOFA).
Additionally if more than $600 was paid to any one creditor within the 90 days before filing, that information goes on line 3 of the SOFA.
Taking money out of a 401(k) account or closing that account is not considered to be income for Bankruptcy reporting purposes.
In other words, that information would not go on Schedule I or form 22A.
I guess that's what I was trying to get at im my mind
Good. Is there anything else I can help you with this evening?
so your previous answer was slightly incorrect for our situation?
sorry for my last statement.I was wrong!
Oh,I forgot.Do I report net or gross on line 11 of the SOFA? Thank You
Thank you very much.