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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2820
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I have an agreement with my employer that I will get a sizable

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I have an agreement with my employer that I will get a sizable bonus if I remain. However I won't get this bonus until May 2014. If I quit I get nothing. Can a bankruptcy trustee execute on this if I file Chapter 7 now. Do I even need to list it as an asset. Since I am only entitled to get it if I keep working for this employer. I have not contributed any money to this plan.

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

The trustee can only liquidate assets that you have at the time of filing.

Terry L. :

That would be considered income, and it isn't earned until it is received.

Terry L. :

Review any documents you have about it with your bankruptcy attorney.

Terry L. :

Let me know if you have any questions.

Terry L. :

Thanks

Terry L. :

Terry

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