I think I am going through withdrawl, I'm sure someone will understand. We are in the process of filing Chapter 13, but have yet to complete a few things. I have a little extra money since I didn't pay bills. I need (or want) a couch. If I buy, will this be used against me? If you keep a seperate checking acct like at ING, does the Trustee or your lawyer have to know about this? I'm coming up to a quarterly bonus and want to tuck that away. It won't be a whole lot, but maybe $2,000. Any info would be greatly appreciated. Thanks!
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They like to see bank statements for 90 prior to filing.... and yes they do find out about "other" bank accounts... I had one with $10.00 in it and had to close. (get the cash and put under mattress)
I just have a comment..... look deeply into the reason you WANT to buy a couch..... are purchases like this the reason you are filing in the first place?? (I'm not one to judge, as this is one of the many reasons I ended up filing).... spend the money on getting real therapy as to why you WANT to acquire material things and not on purchasing them... in the long run you will be better off and not find yourself filing chap 7 or worse in a year or so.. I have been reading these blogs and it seems that many folks are not trying to resolve the issues that brought them here in the first place and looking at this as temporary fix and then they continue to rack up the debit ....
if you really really need a couch... look on Craig's List/local charity shop for a good used one or get the one ou have right now either recovered or get it cleaned.... save your money...Filed 7/17/10 1st 341 8/17/10 2nd 341 9/16/10 1st confirmation 10/06/10 2nd confirmation 11/10/10 Bar Date 11/15/10 3rd and final confirmation hearing Dec 8 and acceptance of plan Dec 29 2010.... -
Thanks, Enginegirl. I needed that! Great advice and I actually was looking on Craig's List and then though hm, new at $400 vs. used at $200, might as well get the new. But YOU'RE right! One more question, how do you handle something like a bonus check so that it doesn't all get taken away? Do you cash the check and keep the cash or just put it in your and deal with it ... thanks again.Comment
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No prob... filing to me was a measure of last resort and was not easy... I have really used it as way to change the way I think and to be able to judge a need (holes in shoes) versus a want (pretty zebra striped pumps) and to be able to budget everything I do. You will find once you really tighten the belt and look at where you are spending there is a bit tiny bit left over (My attorney maxed out the allowable expenses and now I am cutting back on things like cable, internet, learned how to do my own pedis! So i should have a bit more soon!)
I have been pondering the bonus check question myself.... ethically it should go to the trustee to disperse to the creditors... but I think you can keep a bit of it (it varies from state to state).. and remember in some instances the trustee is able to request your future tax returns, so it will show there.Filed 7/17/10 1st 341 8/17/10 2nd 341 9/16/10 1st confirmation 10/06/10 2nd confirmation 11/10/10 Bar Date 11/15/10 3rd and final confirmation hearing Dec 8 and acceptance of plan Dec 29 2010....Comment
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Generally once you are confirmed, your job is to just keep mailing in the payment. They'll generally take your income tax refunds, but unless something substantial changes in your finances (large pay change, large inheritance) they don't have time to fool with you. Presumably, regular bonus checks are calculated into your payment. Unless you have wording in your confirmation order about bonus checks, I would just sock them away for emergency savings.Comment
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I want, want, want things myself. Growing up, we had enough, I didn't know what I was missing, til I was a teenager anyway, add a bit of OCD hoarding in and boredom and voila, you get a shopaholic. I know this about myself, but controlling the impulse is really hard. I had to use a cc to get gas and a few grocery items today, kicking myself for using a cc, but needed milk. As far as a bonus, best to be upfront about it, and you'll get this ordeal over that much sooner.Comment
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I see this said a lot. My attorney said they would not unless it was over $ 10,000. Keep the refund low and it should not be a problem.Originally posted by walkthaplank View PostComment
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It really varies by district.Originally posted by ABC View PostFiled 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....Comment
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I am in the California Central District and they take my tax refunds regardless of the amount.Comment
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hi Walktheplank, I am just logging on now so I apologize for the delay. I see that you are in Southern CA like myself ... thanks for the input. One quick question, I am fine socking the money away for emergency savings, but can it go in a bank account or does it need to go under my mattress? Thanks!Originally posted by walkthaplank View PostComment
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There is no BK reason to not use a bank account once confirmed.Comment
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