What to do if your income decreases after filing Chapter 7 bankruptcy
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If you’re a few months into your case, then you don’t have to do anything. If it changed shortly after your case was filed, wait for the creditors’ meeting and let the trustee know during the meeting that your income has changed. Depending on how much it changed, they may say don’t worry about it or request that you file updated forms.
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
If you’re a few months into your case, then you don’t have to do anything. If your income changed shortly after your case was filed, wait for the creditors’ meeting and let the trustee know about it during the meeting. Depending on how much it changed, they may say don’t worry about it or request that you file updated forms.
Upsolve Users: If your trustee asks you to file an amended Schedule I showing your new income, please visit help.upsolve.org and use the "Submit a Request" feature in the top right corner to let us know and we’ll walk you through it/help you update your forms.
