If you win money?

[Carmella]

I know the odds are slim to none. But what if....

We are at the start of our 4th year of 100% pay back Chapter 13.

Ohio has a promotion to enter everyone who is vaccinated in a drawing to win 1 million dollars.

I know it sounds really bizarre and there's a handful of chances to win. I heard it was cheaper than trying to advertise / promote getting vaccines so they decided to do this, I think it's handled through the lottery. Though there is also a chance for underage kids to win. I think there's two drawings one for adults and one for kids. I haven't read all the details.

If we got extremely lucky and either myself or my husband won what would happen?

Obviously you need to contact the attorney.

Would they want you to pay the remaining amount of the Chapter 13 or would they let you ride it out and just keep making monthly payments.

I would prefer to pay and be done with it.

Would there be negative consequences such as dismissal, is that the right term, basically throwing the BK out and then the creditors would be looking for all the interest and fees?

I don't gamble except the occasional huge lottery/powerball. I have wanted to see the casino in town just to go there, but after BK I decided not to go because with my luck I would win and then complicate the BK 13. I have avoided any big raffles (say over $1,000) that are occasionally held for non-profit type groups. I use to always buy a ticket if someone was selling them for a good cause/fund raising, never expecting to win and still wouldn't expect it, but didn't want to complicate anything.

I'm just curious if you were to win big is that bad for our situation?

[justbroke]

It would be considered a windfall and, unlike a windfall post-petition in a Chapter 7, it would be subjected to distribution in a Chapter 13. (Specifically, only 3 things become property of the estate in a post-petition Chapter 7. For a Chapter 7, it must occur within 180 days of filing and the three things are inheritance, bequeath, or divorce settlements.

I wouldn't say it's a bad situation since you aren't excessively gambling and putting the Chapter 13 plan in jeopardy. It is just that the windfall would need to be reported and the Trustee would want some or all of the winnings.

Of course, this doesn't apply to a person already in a 100% plan.

[sophieanne]

So after reading just broke’s post…you’ld be fine..just pay off the 13 and be done. I hope you or your husband win 😄

[Carmella]

Thanks, we can always dream! I will enter us in the drawing. If we were to win and the trustee wanted the Chapter 13 paid off ASAP I would be writing a check ASAP. If we had to wait, we'd be much more comfortable over the duration.

[MaeKrugern]

Hello, in your situation, the better option, if you will win money playing games, is to pay Chapter 13 to the government and forget about it. In any case, if you will, you need to approach the attorney. Maybe he will find a proper legal way to pay less amount of money. Anyway will suggest that you don't hope that you will win the lottery and find a proper job and recover from your financial crisis. I know that in times of the COVID-19 pandemic crisis, this is hard to do, but it will be the best option for you, in my opinion.

[Clay3007]

Im not gonna lie i put $20 dollars in our pot at work for tonights mega millions drawing. Figure the hell with it if i win and they take all the money I'm better off. I don't usually play but with 45 people putting 20 in each Maybe ill start the new year off with making 1 trustee payment. Lol wishful thinking.

[shipo]

I must be a bad guy or something...

During my Chapter 13 we had a roving neighborhood poker party, in the five years I think I won almost $100 and I never reported any of it to the IRS or to my Trustee.

[Zombie13]

Good luck Carmella !
shipo - wow you really live on the edge dontcha?

[Barbisi]

Good Luck Carmella! After all the car sharing hassles, the awful accident and the ensuring car rental nightmare in 2020 and now a Covid-19 diagnosis, you deserve to win big time!

[Carmella]

Yeah I always say that I want to win the lottery, but I never play LOL!