?? about income and car loan

[dbake]

What is the name of your state? Colorado

I am filing pro se. My 341 hearing is 8/5, the things I am worried about now is my July paycheck. As a teacher, I get paid on the last working day of the month. I taught summer school this year and received all of that pay on my July check, so it is $2000 more than my average paycheck. (yep, that's all we get, 2k for 6 weeks of full-time teaching!)

What affect will this have at the hearing?
Should I worry about it?
Is there anything I should do between now and Thursday afternoon?

Also, I signed a reaffirmation agreement with GMAC for my car loan. What are the chances that will be approved so I can keep my car? Anything I should do to ensure I keep it?

Thanks for the answers to other questions! Wish I would have found this site a couple years ago.

 

[chris7]

At our 341 meeting our trustee did not even mention that we indicated we were reaffirming our house and one vehicle. I think that sometimes there has to be a reaffirmation hearing, but I'm pretty sure it's with a judge, not the bankruptcy trustee. In fact we were supposed to have reaffirmation hearings and I'm just now realizing I haven't heard a thing about it from the court. I have never heard of a reaffirmation agreement not being approved though.

With the big July paycheck I think the issue would be did you get it before or after you filed? If you got it and it was sitting in your checking account the day you filed, then the trustee will take it. We had something like a $56 balance on the date of filing and had to give it to the trustee but we also had other non-exempt assets he was collecting. If you got it after you filed then it should not be a problem, the trustee is not going to take income you earned between your filing date and 341 meeting. If I'm wrong someone will come along and correct me, but at our 341 all that mattered was what was in our accounts the day we filed. The trustee did not ask about what we had earned since then.

 

[dbake]

Please, If Someone Knows Otherwise, Let Me Know!!

With the big July paycheck I think the issue would be did you get it before or after you filed? If you got it and it was sitting in your checking account the day you filed, then the trustee will take it. If you got it after you filed then it should not be a problem, the trustee is not going to take income you earned between your filing date and 341 meeting. If I'm wrong someone will come along and correct me, but at our 341 all that mattered was what was in our accounts the day we filed. The trustee did not ask about what we had earned since then.

Thank you for this. It sounds like I picked the perfect day to file. I filed on June 29th, then got my regular monthly paycheck on June 30th. There was $25.87 in savings (minimum balance of $25) and only $32 in checking. I have statements that were printed that day, also, instead of on June 30th that would show the payday balance.

If your info is correct, and I hope it is, then I'm in good shape.

PLEASE, IF SOMEONE KNOWS OTHERWISE, LET ME KNOW!!