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Richard
Richard, Attorney
Category: Legal
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Experience:  Attorney with 29 years of experience.
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1. When filing chapter 7 bankruptcy in CA, is income, as evaluated

Customer Question

1. When filing chapter 7 bankruptcy in CA, is income, as evaluated by the means test, based on income at the time of filing or court appearance?

2. Is deferred income considered part of the means test for Chapter 7 CA bankruptcy proceedings?
Submitted: 6 years ago.
Category: Legal
Expert:  Richard replied 6 years ago.

Good evening. The bankruptcy law determines your income by only looking at your household income during the six full calendar months before your bankruptcy filing.

 

 

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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

 

 

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Customer: replied 6 years ago.

If the income has been deferred and you decide to file Chapter 7 BK before the income is paid out, is that income used in the income means test with a Chapter 7 BK process?

Expert:  Richard replied 6 years ago.

Typically it would only be included if it was earned in the 6 months immediately prior to bankruptcy but deferred. Otherwise, not.