Cashed a big check within six months, does it matter?

[espo1357]

Well, I spent the money, getting caught up on the mortgage and for house funish and improvement.

Or is is mainly about the current income and current state of finances?

The check was about 40k, but almost all of it is gone.

[newbie2]

Well, I spent the money, getting caught up on the mortgage and for house funish and improvement.

Or is is mainly about the current income and current state of finances?

The check was about 40k, but almost all of it is gone.

Aren't you already in a Chapter 13 plan? Did you talk to your attorney before you spent the money???

Edited: Please don't tell me you received the inheritance you were talking about earlier this month and didn't tell your attorney about it. Also, the "6 months" you are referring to in your subject line has nothing to do with a Chapter 13 plan. I believe this was mentioned several times before to you in the thread that you asked about receiving an inheritance.

[espo1357]

Aren't you already in a Chapter 13 plan? Did you talk to your attorney before you spent the money???

Edited: Please don't tell me you received the inheritance you were talking about earlier this month and didn't tell your attorney about it. Also, the "6 months" you are referring to in your subject line has nothing to do with a Chapter 13 plan. I believe this was mentioned several times before to you in the thread that you asked about receiving an inheritance.

in a 13, but not confirmed. had two checking accounts, but closed one before I filed, and only "reported" the one I use to pay bills. at the 341, most of the money was spent. no inheritance involved.

thanks.
I don't think its going to matter, and if it does, I will just drop off and refile at the worst case scenario.

[newbie2]

in a 13, but not confirmed. had two checking accounts, but closed one before I filed, and only "reported" the one I use to pay bills. at the 341, most of the money was spent. no inheritance involved.

thanks.
I don't think its going to matter, and if it does, I will just drop off and refile at the worst case scenario.

Oh my. Did you at least inform your lawyer about this? $40K is a lot of money to spend without checking with your attorney.

[espo1357]

Oh my. Did you at least inform your lawyer about this? $40K is a lot of money to spend without checking with your attorney.

didn't try to pull anything. I closed the account before I filed (submitted only one account, the primary one that I use to pay all bills) and I didn't know that the other one was relevant because I closed.

they never asked me if I had another account under oath. I answered everything truthfully, and now that they are contesting, I am giving them what they wanted.

its not like the BK is really helping too much, at least in the short term (my house is still way under). But, in ten years, this move would have made lots of sense and my credit will be very good.

[espo1357]

Aren't you already in a Chapter 13 plan? Did you talk to your attorney before you spent the money???

Edited: Please don't tell me you received the inheritance you were talking about earlier this month and didn't tell your attorney about it. Also, the "6 months" you are referring to in your subject line has nothing to do with a Chapter 13 plan. I believe this was mentioned several times before to you in the thread that you asked about receiving an inheritance.

Ok, thanks for that reminder too, that it has nothing to do with the 6 months. That is what I was looking at.

My problem is that I uncover every stone, and leave nothing to chance. Its a smart thing, but it can be a curse at times because my mind is always racing around trying to figure out the best move.

It might be better to walk through life with just simple knowledge, and a simple mind. lol.

[SMinGA]

I don't have it in front of me, but I'm 99% sure there was a place on the bankruptcy petition that asks about bank accounts - including any that were closed in the 6 (or may be 12?) months prior to filing.

[newbie2]

they never asked me if I had another account under oath. I answered everything truthfully, and now that they are contesting, I am giving them what they wanted.

I can see why they are contesting (questioning?). That's quite a bit of money to have spent right before you declare bankruptcy without declaring any of it on your petition. Trustees are trained to look for this type of activity. After all, it's money that could have gone to help pay your unsecured creditors. It's also money that maybe should have been declared as income to you and part of the look-back for that.

Are they asking you for receipts or an accounting of how you spent the money?

[espo1357]

I can see why they are contesting (questioning?). That's quite a bit of money to have spent right before you declare bankruptcy without declaring any of it on your petition. Trustees are trained to look for this type of activity. After all, it's money that could have gone to help pay your unsecured creditors. It's also money that maybe should have been declared as income to you and part of the look-back for that.

Are they asking you for receipts or an accounting of how you spent the money?

no. its a lot, but when you are in arrears and when that money when to the mortgage and household needs and car needs, then I don't think it is going to be a problem.

If it is, then I will refile.

I think I have to modify my plan anyway, because the payback was 100 percent on the arrears of the first mortgage, and now that arrears was put back into the loan after it was modified.

[angles]

I don't have it in front of me, but I'm 99% sure there was a place on the bankruptcy petition that asks about bank accounts - including any that were closed in the 6 (or may be 12?) months prior to filing.

Yes, this is correct. Just finished a review of our draft and saw that question. We closed a WF account because they have a reputation of freezing the account.

[angles]

My problem is that I uncover every stone, and leave nothing to chance. Its a smart thing, but it can be a curse at times because my mind is always racing around trying to figure out the best move.

It might be better to walk through life with just simple knowledge, and a simple mind. lol.

[espo1357]

This site is great. Real people with real concerns (of course, we have the occasional idiot who leaves a message about his girlfriend wanting to pay off the BK, lol).

Anyway, I have learned so much here, and the one point that sticks with me is this:

KNOW YOUR RIGHTS!