Did anyone have to resubmit financials when they were confirmed?

[indebt00]

I am asking because we have been making payments for 9 months and still waiting to be confirmed....

is it ok to have a savings account? with money in it? we have managed to save some money and I want to be sure its ok...even tho we are not confirmed yet.

I have not read about anyone having to resubmit bank statements or not be able to have a savings...I guess I am just being paranoid...so what do you guys think???

[shark66]

Personally, without knowing the specifics of your case, my savings account would be under my mattress...until discharge.

Good luck.

[tgrazor]

LOL! @ Shark! Thanks for the advise!

[justbroke]

In a Chapter 13, they hardly ever look at statements or financials. If you are scheduled for confirmation and there were no issues -- the Trustee doesn't object -- then you're okay. You are okay anyhow to save money based on your allowances. You actually do need to have a rainy day fund.

I can't believe you're still awaiting confirmation. My 341 Meeting was in August 2008 and I was confirmed December 2008. What's your confirmation delay?

[indebt00]

In a Chapter 13, they hardly ever look at statements or financials. If you are scheduled for confirmation and there were no issues -- the Trustee doesn't object -- then you're okay. You are okay anyhow to save money based on your allowances. You actually do need to have a rainy day fund.

I can't believe you're still awaiting confirmation. My 341 Meeting was in August 2008 and I was confirmed December 2008. What's your confirmation delay?

I guess AZ is really behind. There is another poster on the boards who heard about her case in Feb and she filed 3 months before us. We have the same trustee. so...we are thinking any time we should hear something.

We have a rainy day fund that has helped with a pool repair and a dryer repair lately.

[indebt00]

Personally, without knowing the specifics of your case, my savings account would be under my mattress...until discharge.

Good luck.

realistically tho....we don't want to keep cash in the house.

This is ch 13....discharge is 5 yrs away

[shark66]

@indebt00:

I understand the sentiment of not wanting to keep cash in the house. However, my view is that once you have it in the bank someone else knows it's there as well...

Once again, without knowing the specifics of your situation, it's somewhat tough to give sane advice...but I'd most definitely keep everything well out of anyone's sight until you're confirmed, at the very least...

My $0.02 only...

[Universal]

Agree w/ starting to save all you can and keeping it for those emergencies that will undoubtedly arise. I have a little in a fire proof box in a basement, well hidden, and no, not my basement. I have not been able to add to it yet, but hope to be able to soon. Even after confirmation I might still keep that $ where it is and then try adding to the bank savings account.

[indebt00]

anyone else have thoughts on savings after filing ???? I thought your balance in the bank really only mattered when you file.

where are you long time waiting for confirmation folks....especially you AZ'ers

[krielly]

My understanding is that looking at your financials was for a snapshot of what you had at the time of filing for assets.

You should certainly be able to put money in a savings account. Hopefully one of the "experts" can chime in here.

[lrprn]

Our lawyer told us after we filed that it was fine to open a personal savings account and put our emergency fund money in it. We did that and more than three years later, we still have that same account and our trustee hasn't said a word.

Check with your own lawyer to be sure it's ok to open a savings account in your situation. I'm betting he/she says it's fine.

[walkthaplank]

Heh... in California Central District we are confirmed (or dismissed) the same day of the 341 as long as there were no objections filed.

[indebt00]

Our lawyer told us after we filed that it was fine to open a personal savings account and put our emergency fund money in it. We did that and more than three years later, we still have that same account and our trustee hasn't said a word.

Check with your own lawyer to be sure it's ok to open a savings account in your situation. I'm betting he/she says it's fine.

we did ask if we could open the savings and it was ok..that was a few months ago.
I guess I was just getting paranoid.