Filed Ch 7 and 2 days later received an unexpected windfall

[Birn]

Need advice on this. I received a refund from a mortgage company for an escrow overage. It was a couple of thousand dollars. I received it 2 days after I filed. I had no idea this was coming. Can I keep this? Do I need to advise my attorney? This is from a property that is not in default and I intend to keep it.

Thanks

[epiphany]

Need advice on this. I received a refund from a mortgage company for an escrow overage. It was a couple of thousand dollars. I received it 2 days after I filed. I had no idea this was coming. Can I keep this? Do I need to advise my attorney? This is from a property that is not in default and I intend to keep it.

Thanks

Gee, I sure hope you can keep it. But yes, you need to advise your attorney and go from there. Your unexpected windfall is not worth risking the dismissal of your BK. Good luck,

EP

[magyar123]

Did you deposit that check already? If not, sit on it until the 341 hearig.

[Birn]

Thanks. I'm just not sure what to do. From what I've read, any income after I file should be mine, correct? I may also receive a couple of bonuses from my employer this Spring. I don't know yet if we'll get them but we usually are told about the end of March, which is right around the time of my 341 hearing.

My attorney always said that the date of filing is what establishes my bankruptcy estate and that any income received after that date is mine to keep. I still haven't told him about my unexpected windfall.

Any other thoughts or suggestions would be welcome.

Thanks. This site has been incredibly helpful!!

[Birn]

I forgot to mention that I haven't deposited the check. I was planning to sit on it until the 341 meeting. The check is good for 180 days.

[FreshLikeADaisy]

Birn, don't cash the check until you've spoken with the atty. Because it's an escrow refund, it's not technically cash receive AFTER the filing; you paid into it prior to filing and just now happened to get some back. Same thing with tax refunds, actually. So ask the atty, and if the atty says that the trustee will want it, see if you can exempt it with any leftover wildcard exemptions you may still have. In either case, the atty may wish to file an amendment to your schedules. If he does, be sure you look them over prior to your 341, so you're prepared to answer any questions. Good luck!!!