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Deferred income in a chapter 7

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Hunterman

Junior Member
Minnesota

I have filed chapter seven within the last month. I am a teacher and even though I do not work most of the summer, I still get paid over the summer. My annual salary is divided by 24 and I get paid 1/24 of my salary each pay period (two pay periods per month).

Basically, from September through May I earn all of my income, even though I won't receive all of the income until the last paycheck in August.

What is the likelihood of the trustee asking for the income earned, but not yet received (and won't be received until the summer)?
 


bigun

Senior Member
None. Your schedules should reflect your salary and your financial situation on the date you filed.The trustee may or may not be interested in your tax refund but they won't come after your future salary.
 

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