Another bank account ???

[t&msmom]

Will I get in trouble with the trustee if they see debits in my bank account for christmas presents? i.e. There is a deal going on at Yankee Candle right now that would be perfect for my MIL. I'd like to order it, but am not sure if it would "look good" on my account. I'm not sure if I should wait or not.

[lrprn]

Will I get in trouble with the trustee if they see debits in my bank account for christmas presents?

No, you won't get into trouble buying Christmas gifts unless they are luxuries or extravagant (expensive jewelry, vacations to the Carribean, etc) which you shouldn't be able to buy right after you file Ch 7 anyway. Yankee Candles don't fit either category....go make your MIL happy .

Your trustee isn't going to be looking over your checking account after your 341 anyway unless there's some suspicion of fraud or you have an asset Ch 7 case. Any voluntary expenditure under $1000 isn't going to be looked at with much interest even if your trustee does look.

[PaKettle]

I'm a little confused about spending in the interim between filing Ch. 7 and the 341, the period we're in right now.

My attorney did not say anything about being careful about spending, he gave no instructions whatsover. We have very little money so I can't imagine there being a problem with what we are spending.

However, as it turns out, I got some overtime pay last week and will be getting some more this week, and as a result we have a little bit of spending money for the first time in several months. We've been living week-to-week, barely making car and rent payments, student loan and food and gas etc... So now we have a couple hundred extra in our pockets due to this overtime. Is this a problem? Should I take the money and buy necessities with it right away, or is it okay to have a couple hundred extra dollars as long as it's clear that in the past few months we have NOT had that amount of extra money? (California has a large exemption so I'm not worried about that, I'm just concerned in terms of our income vs. expenses profile...)

[BKcrazy]

My attorney told me once I filed, I could win the lottery and it would still be all mine. (Erm, after taxes of course)

[JoeP]

What about before we file? Can we purchase xmas gifts this month, then file in January?

[t&msmom]

That's what I was thinking too. Is it okay as long as we aren't using CC's to purchase the gifts? And how much does a "luxury gift" cost? Is there a limit to how much we can spend? Also, if there is a limit, it is per person, or overall. (I have my kids done, which was my only concern anyways, and still have about 20 people left on my list. Fortunately, I can budget shop and not feel bad about it. )

[ssdsco]

That's what I was thinking too. Is it okay as long as we aren't using CC's to purchase the gifts? And how much does a "luxury gift" cost? Is there a limit to how much we can spend? Also, if there is a limit, it is per person, or overall. (I have my kids done, which was my only concern anyways, and still have about 20 people left on my list. Fortunately, I can budget shop and not feel bad about it. )

See # 7. I would stay under $200 per person.

http://www.uscourts.gov/rules/BK_Forms_06_Official/Form_7_0407.pdf

[PaKettle]

My attorney told me once I filed, I could win the lottery and it would still be all mine. (Erm, after taxes of course)

I could be wrong, but I don't think that is true.
I was told that if my income changes more than 20% between the time of filing and the time of discharge (4 months or so), the Trustee should be notified because it could affect things.