toughluck73
Member
What is the name of your state? TX
Ok, I want to file for Ch 7 and have little income (a mere $800/month). I was made an offer out of state for full tuition remission, a fellowship, and a rather generous stipend (to continue my graduate education). It wouldn’t start until the fall, so my question is this, if I file bankruptcy in the next week or so, would I have to disclose that my income will increase in three or four months in the future? My biggest fear is this. I live in Texas where the cost of living is rather low and the state I would be moving to has a much higher cost of living, so I would still be strapped for cash (my expenses would increase proportionately). I would fear that they could use my current expenses along with future income (future interest) and determine that I will have disposable income, when in fact that wouldn’t be the case. The school is also making me sign the offer agreement saying that I am accepting the offer of financial support. I realize that the stipend amounts to income, but the fellowship is a lump sum given out at the beginning of the year. An alternative would be to stay in state, where I have been given two offers with much less financial support and I would continue on with little income. If anyone wonders why I am choosing to continue my education rather than getting a job and paying my debts, the answer is simple. I have been looking for work and haven’t found any employment, so I am using graduate school in a two fold manner. One to get a better job once the economy improves. The second is to defer my student loans, which I wouldn’t be able to pay if I left school right now. It’s kind of a catch 22.
Ok, I want to file for Ch 7 and have little income (a mere $800/month). I was made an offer out of state for full tuition remission, a fellowship, and a rather generous stipend (to continue my graduate education). It wouldn’t start until the fall, so my question is this, if I file bankruptcy in the next week or so, would I have to disclose that my income will increase in three or four months in the future? My biggest fear is this. I live in Texas where the cost of living is rather low and the state I would be moving to has a much higher cost of living, so I would still be strapped for cash (my expenses would increase proportionately). I would fear that they could use my current expenses along with future income (future interest) and determine that I will have disposable income, when in fact that wouldn’t be the case. The school is also making me sign the offer agreement saying that I am accepting the offer of financial support. I realize that the stipend amounts to income, but the fellowship is a lump sum given out at the beginning of the year. An alternative would be to stay in state, where I have been given two offers with much less financial support and I would continue on with little income. If anyone wonders why I am choosing to continue my education rather than getting a job and paying my debts, the answer is simple. I have been looking for work and haven’t found any employment, so I am using graduate school in a two fold manner. One to get a better job once the economy improves. The second is to defer my student loans, which I wouldn’t be able to pay if I left school right now. It’s kind of a catch 22.