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Wages: Documentation of Income with Pay Stubs/Pay Advices

WAGES: Documentation of Income with Pay Stubs/Pay Advices)

Debt information alone is insufficient for attorney to evaluate your case.  Attorney needs to calculate your “current monthly income” (CMI) defined in Bankruptcy as the total average income over the previous 6 calendar months.

What if I lost my pay stubs?  Can I give something else? Unfortunately, no, neither W2s, Tax Return, or Bank Statements will provide the pertinent information. Contact your Employer’s Payroll Department to get replacaement copies. Today, most employers provide payroll information online.

Which Pay Stubs are needed to make the CMI calcuation?

  1.  Examine your pay stubs.  Do your stubs provide Year-to-Date numbers for BOTH Wages and Deductions from Wages?  If YES then provide the stubs as shown in chart below in Column A.   If NO, then provide the stubs as shown in chart below in Column B. 
  2. Ignore Pay Period! Look at Payment Date or it may be called Advice Date.

NOTE:  If you have multiple sources of income, provide documentation for every source, include your spouse’s, even if spouse has no debts or will not be filing bankruptcy with you)

CURRENT MONTH OR YOUR POTENTIAL CASE FILING MONTH COLUMN A

Your Pay Stubs show YTD Gross Wages and Deductions

 COLUMN B

Your Pay stubs do not show YTD GrossWages or Deductions
MAY  3 Pay Stubs: Last payment

  1. December
  2. October
  3. April
 ALL Pay Stubs from November to April
JUNE  3 Pay Stubs: Last payment

  1. December
  2. November
  3. May
 ALL Pay Stubs from December to May
JULY  1 Pay Stub

  1. Last payment in June
 ALL Pay Stubs from January to June
AUGUST 2 Pay Stubs: Last Payment

  1. January
  2. July
 ALL Pay Stubs from February to July
SEPTEMBER 2 Pay Stubs: Last Payment

  1. February
  2. August
 ALL Pay Stubs from March to August
OCTOBER 2 Pay Stubs: Last Payment

  1. March
  2. September
 ALL Pay Stubs from April to September
NOVEMBER 2 Pay Stubs: Last Payment

  1. April
  2. October
 ALL Pay Stubs from May to October
DECEMBER 2 Pay Stubs: Last Payment

  1. May
  2. November
 ALL Pay Stubs from June to November
JANUARY 2 Pay Stubs: Last Payment

  1. December
  2. June
 ALL Pay Stubs from July to December
FEBRUARY 3 Pay Stubs: Last Payment

  1. December
  2. July
  3. January
 ALL Pay Stubs from August to January
MARCH 3 Pay Stubs: Last Payment

  1. December
  2. August
  3. February
 ALL Pay Stubs from September to February
APRIL 3 Pay Stubs: Last Payment

  1. December
  2. September
  3. March
 ALL Pay Stubs from October to March

DONE WITH WAGES? – CONTINUE TO OTHER SOURCES OF INCOME