filed chp13 1in CA, now whats best strategy prior 341

[johnjan2009]

Just filed chp13 and I would like to know what is best strategy to do prior 341 meeting. Do I need to wait for case# before sending first trustee payment? Also as far as finances(i.e. checking account since no cred cards anymore, do I need to tighten everything per my plan? I understand my plan has a little room for me so I maybe able to save $$ for emergency expenses but can I keep this $$ in my checking account while in chp13? If I withdraw $$ say $200 as pocket money for dining out, etc, will this be questioned during 341? To be in safe side what is max amount you can withdraw? I would love to hear from you guys on best strategies prior 341 and feel free to add more tips/recommendations if I missed anything. Thanks in advance!

[LadyInTheRed]

My trustee sent me a letter with payment instructions. Yes, you will need to know your case number before you send the first payment.

You can keep money in your checking account. The sooner you can save, the better.

I have yet to read of a trustee checking a debtor's daily spending habits against the budget in their schedules. If you read the 341 section of the forum, I bet you won't find anyone who said the trustee asked how they spent cash recently. I kept my cash receipts just in case, but I never needed them. You will only need them if the trustee thinks an expense in your budget is too high and you have to prove what you actually spend. In the case of your dining out example, if the trustee thinks your food budget is too high, those receipts aren't likely to help.

Between now and your 341, do what you should do after your 341. Live within your budget, spend what you need to spend and save as much as you can.

[jcj112562]

I would echo LadyInTheRed, and just start to live like you are in the plan, the sooner you get used to the new way of living, the sooner you will be acclimated to it, along with saving as much as you can manage. I just checked the NDC and discovered, much to my delight, the case status has changed to Plan Complete, so it *can* be done...and I finished up about 3 months earlier than I had originally thought, purely due to scrimping and saving as much as humanly possible, while still surviving. 7 more days until the first "real" paycheck I will have gotten in 2 years.

John

[momofthree]

1. Yes, you need to start living by your plan budget. If you don't learn to carefully budget and save whenever possible, your plan will fail. The first few months are the hardest, after that it just becomes 2nd nature.

2. You can keep the extra money in your checking account, but I recommend putting it into a different account where it will be less accessible. That way, it's less tempting to spend it.

3. If you're nervous about what the trustee will think about you withdrawing $200 for dining out, then it's probably not something you should be doing. (read #1 ) However, like Lady said, he doesn't have time to go line-by-line over your expenditures. I personally take my grocery money out in cash each month so I don't go over budget and never heard a word about it.

4. Again, there is no max you can withdraw from your account. You can withdraw your entire paycheck and pay your bills in cash if you want to. They won't care as long as you make your plan payment on time each month.

5. You'll need your case # before mailing in your first payment. You should receive a letter from the tt shortly with instructions on sending in your payments, this should contain your case # as well.

Good luck!

[johnjan2009]

thanks, everyone... I really appreciate the inputs.. just today, my car battery die and need to replace new battery.. It just cost me around $100 but what a coincidence that after filing, next day my car battery needs replacement

[LadyInTheRed]

thanks, everyone... I really appreciate the inputs.. just today, my car battery die and need to replace new battery.. It just cost me around $100 but what a coincidence that after filing, next day my car battery needs replacement

Sorry to hear that. Murphy's law strikes again! A few days after my 341, somebody threw a rock through my passenger side window so they could look through my glove box. There was nothing there to steal, but ther repair cost me $200. Which brings to mind a tip: It only costs a few dollars a month to lower your comprehensive deductible from $500 to $100.

[FishersMike]

Yes also in most States -- you can keep the Comprehensive Deductible at $500.00 but add "Full Glass Coverage" - basically means if it is a glass claim you have a $0 deductible, but any other Comprehensive Loss, i.e. stolen vehicle or hitting a deer would be $500.00 deductible. This will really have you save money -- because lots of times having a newer vehicle it is more than a few dollars to have a really low Comprehensive Deductible.

[johnjan2009]

Sorry to hear that. Murphy's law strikes again! A few days after my 341, somebody threw a rock through my passenger side window so they could look through my glove box. There was nothing there to steal, but ther repair cost me $200. Which brings to mind a tip: It only costs a few dollars a month to lower your comprehensive deductible from $500 to $100.

thanks, LadyInTheRed for the tip... Maybe its time to get that comprehensive after all :-

[johnjan2009]

Yes also in most States -- you can keep the Comprehensive Deductible at $500.00 but add "Full Glass Coverage" - basically means if it is a glass claim you have a $0 deductible, but any other Comprehensive Loss, i.e. stolen vehicle or hitting a deer would be $500.00 deductible. This will really have you save money -- because lots of times having a newer vehicle it is more than a few dollars to have a really low Comprehensive Deductible.

Hey FishersMike, which auto insurance co offers this "full glass coverage"? I don't recall seeing this option at geico.. thanks for the info though.

[LadyInTheRed]

Hey FishersMike, which auto insurance co offers this "full glass coverage"? I don't recall seeing this option at geico.. thanks for the info though.

I've never seen the option either. Maybe it's not available in California.

[momofthree]

My parents have always had the full glass coverage thru Allstate (both in CA and AZ). Maybe I should look into it. We've had to replace our fair share of windshields.

[Pandora]

We have full glass coverage as well (VA - ins. is through Erie) - although I just recently changed it to be a $50 deductible for complete replacement; any chips are covered for free and do not count against claims. I usually have Safelite Autoglass come out to the house and do all replacements and repairs.

[LadyInTheRed]

My parents have always had the full glass coverage thru Allstate (both in CA and AZ). Maybe I should look into it. We've had to replace our fair share of windshields.

Odd that my Allstate agent didn't mention it when I told her what inspired me to decrease my deductible. I'll have to ask her about it.

[Guest123]

We have Geico and have $0 deductible glass coverage. Only thing they don't seem to offer is GAP but we don't need it anyway.

[FishersMike]

Most bigger insurance companies will offer some type of Full Glass Protection -- it may obviously be called something different for each one of them - but I would definitely inquire. And most insurance carriers will not charge a deductible for comprehensive if it can be repaired instead of replaced - basically a crack smaller than a quarter.