Once the meeting of creditors is over in your Chapter 7 bankruptcy case, you're pretty much done. Generally, you need an income below the median income in your state. If you anticipate that your income is going to increase in the near future, you must disclose this on your bankruptcy petition at the time you file. If you file a Chapter 13 bankruptcy petition and your case is confirmed, you have shown the court and the Trustee that you have sufficient income to pay your ongoing expenses and also repay your creditors in part. You filed for Chapter 7 bankruptcy. If The Meeting Is Closed If the bankruptcy trustee has Spending Money After Filing Chapter 7 or Chapter 13 Spending While in Chapter 13. The bankruptcy trustee’s job is to review your assets and your claimed exemptions and to manage your bankruptcy estate. I was surprised when I asked a lawyer about future income increases while filing for Ch 7. I had my 341 hearing last month and I was excused and granted a Chapter 7 with the US Trustee. Your income is the major determinant in whether or not you can file Chapter 7 bankruptcy. The trustee closed the meeting. Here are the loose ends you need to tie up. If you have less than $100 a month left over for creditors after paying expenses, you’ve passed the means test. After filing a Chapter 7 bankruptcy, the court will assign you a case number and a bankruptcy trustee. I just wrote this as part of a response to a different post, but wanted to pose my question separately. After your … All that matters in a chapter 7 is your situation on the day you filed your case. At the end of the day, the trustee will be the one making sure creditors get their part of whatever disposable assets you have to satisfy your debts. A repayment plan will last, at a minimum, three years, and five years at a maximum. Increased Income After Filing in Chapter 7 06-04-2006, 04:27 PM. A chapter 7 case begins with the debtor filing a petition with the bankruptcy court (the court serving the area where the individual lives, or where the business debtor is organized or has its principal place of business or principal assets). Chapter 13 repayment plans can change during your bankruptcy. Chapter 13 lasts much longer than a Chapter 7 which is usually filed, processed and discharged within just a few months. After a 341 Chapter 7 hearing, does an income increase change things? You went for your meeting of creditors. The Chapter 7 Petition and Filing Requirements. My income for the 6-month pre-filing period is about $34k. Image Source: Flickr User Uli Matheus. Following is an overview of the early course of a typical Chapter 7 bankruptcy case. 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