Bankr. W.D.N.C.: In re Eutsler- When are of Earnings of the Debtor "Earned" for Purpose of Exemption under N.C.G.S. § 1-362

Summary: The Female Debtor received a bonus for 2010 in March 2011 ad filed Chapter 7 in June 2011.  She claimed an exemption in an annual bonus under N.C.G.S. § 1-362, as earnings of the debtor necessary for the support of the family and earned within 60 days.  The Chapter 7 Trustee objected.    The bankruptcy court held that a bonus did fall within the definition of earnings.   The court continued, however, to find that an annual bonus was not "earned" when received, but throughout the year.  Accordingly it was not "earned" within 60-days of filing and not entitled to exemption. For a copy of the opinion, please see: Eutsler- When are of Earnings of the Debtor Earned for Purpose of Exemption under N.C.G.S. § 1-362.PDF