Grocery stocking

[mintz]

What does "Grocery stock up mean" I mean, should we stock up on toiletries, food and stuff before we file? Buy extra stuff so we spend more the next few months??

[AngelinaCat]

Hi Mintz. I don't know what 'Grocery stock up' means because I don't know where you got the term. But my suggestion is to take every advantage of 'buy 1 get 1 free' offers and the like, to stock up on your staples.

You need to stock up on commodities like toilet paper, toothpaste and brushes, shampoo, cooking oil, coffee, canned goods, storable milk, laundry soap--all of that type of stuff. Think like you are making your Hurricane Survival kit 'writ large'. I don't know where you live, but any supplies you can lay in is like a little savings account.

If you have money in an account that you need to deplete before you file--we were told to have our checking account at zero balance the day we filed--this is the best use you can put that money to. I would also take $100.00 cash each for you and your spouse/partner and put it AWAY as an ABSOLUTE EMERGENCY FUND that you 'forget' about. That means that money does not exist anywhere if you happen to run a few dollars short at the grocery store. This fund is for if and when you get stuck out in the middle of the Ocala Forest and need a tow, and the only tow-er accepts nothing but cash. Just my thoughts, after re-reading, Alas, Babylon, for the umpteenth time.

Good luck and my best~~~

[mintz]

Thanks Cat, I live in Texas. I understand what you mean. I guess, if I find I have a few hundred dollars left over each month to "blow" should I just go spend it on commodities to deplete my account each month?

My biggest fear is we will not have enough to retire on in the future if we can't file chapter 7 and start saving some money in the long run

[AngelinaCat]

It is my understanding that you do have the ability to deposit some funds each month or paycheck into a retirement account even if you do file Ch7. I will have to check my nolopress Ch7 book. But it is always safe to have storable commodities on hand and some cash in the sock drawer.

Which part of Texas? We go to Galveston twice each year.

[journey]

It is my understanding that you do have the ability to deposit some funds each month or paycheck into a retirement account even if you do file Ch7. I will have to check my nolopress Ch7 book. But it is always safe to have storable commodities on hand and some cash in the sock drawer.

Which part of Texas? We go to Galveston twice each year.

AngelinaCat. So after someone files Ch7 do you think the trustee will get upset and come after some one if they try to save some money or do they care once your discharged.
I was thinking after the discharge if you had some extra money every week you could save but all so was thinking if the trustee thought you had extra money they might open the case back up as well.

[jktrading]

Sounds to me that it would mean to turn non-exempt funds into exempt. Cash may not be fully exempt, while all of "groceries" would be. That would include car repairs, doctor, dentist, etc.

[mintz]

Hi Cat, I live in East Texas. Where I am confused is: If I have extra cash on hand after I pay all my bills, won't the trustee question me about filing chapter 7 as if to say "you can afford to pay some of these bills" "so, I'm not going to let you file. OR if I take some cash out of each check, won't he want to know where I spent it?

[journey]

Im in the 60 day club. Now that im not paying on CreditCards i have extra Cash should i pull it out of my checking account or is it all right to save even if im not Discharged yet i had quit paying on them back in September 2008.

[arkienurse]

Im in the 60 day club. Now that im not paying on CreditCards i have extra Cash should i pull it out of my checking account or is it all right to save even if im not Discharged yet i had quit paying on them back in September 2008.

Journey, my understanding is that you win the lottery the day after filing, and they cannot take it , so any bit you are able to have in your checking acct should be ok.

[kenshirley]

We want to go Chapter 7 and cannot file until March with my wife's income as she became disabled. We have to get past that 6 months to be under the median for us in retirement.
We have an old freezer and yes we are going to have it full so we can file in early March.
We will pay all the normal rent and utility bills early and will have minimal cash on hand until the end of the month.
In our case the attorney told us it could not exceed $300.

[dogbone33]

We will have a lot of money every month to save. I am assuming since we have 2 young children and we are still under the means they aren't taking any of our paycheck. The lawyer just told us to save up our extra money.

[arkienurse]

Journey, my understanding is that you win the lottery the day after filing, and they cannot take it , so any bit you are able to have in your checking acct should be ok.

Ok, just reread my post. I do not think you win the lottery the day after filing. What I intended to say was-- even if you win the lottery the day after you file, it is my understanding that they cannot take it to pay off your creditors.

[journey]

Ok, just reread my post. I do not think you win the lottery the day after filing. What I intended to say was-- even if you win the lottery the day after you file, it is my understanding that they cannot take it to pay off your creditors.

arkienurse.. thank you for your respond.