I'm selling and sold some assets that are paid for but I'm not sure what to do with the cash. I have an appointment with an attorney next week, I am aware to spend on home improvements or clothing, furniture, But I guess my question would be is, If items are sold before filling do they or the cash half to be reported. Can the trustee know I had a pink slip 2 week before filing and ask where the cash went. of course it will and is all going to bills so do I need the reciepts???
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They will ask if you've sold anything in the last year (or 2), so yes, it has to be reported, as does any cash on hand. It is a good idea to keep receipts just in case.Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
0% payback to unsecured creditors, 56 payments down, 4 to go.... -
We sold assets to use for paying bills for a while...hoping that our income would pick up (self-employed). Sold stuff on ebay every week to have grocery and gas money. Sold several big toys to make a mortgage payment, pay the electric bill, phone bill and have money for filing bk.
My attorney wanted details on the income from ebay, and I had bills of sale for the big equipment we sold. Thankfully the ebay money didn't put us over any magic numbers, but two of the toys were sold in April, the month we filed and they would have thrown us over the top. As it is we're at 20%. Just keep receipts for everything!Filed Chapter 13 4/14/10
341 Scheduled for 5/26/10
Plan Confirmed 9/17/10Comment
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