New stimulus payments? Worries...

[outsidetool]

So with Congress in session trying to hammer out a way to save the economy, I just heard today that part of the plan may include a new stimulus payment. Something about shelling out another $500/per person. I'm not sure about all the details. But, frankly, when I heard about the plan on the news, I was not all happy. My Ch 7 is still kind sitting in limbo I guess. Got a discharge notice from the court about a month ago (filed in Oct '08). Trouble is that I filed, my wife did not, and the Trustee was none too happy over the whole situation. The Trustee had been threatening a motion to dismiss due to our budget, my wife's extra expenses therein, and the fact that we were way over median. My wife refused to cooperate--and still wants nothing to do with it all. She wrote a letter to the Trustee basically saying that none of her money was going to pay off my bills. Now, there's lots of little nuances to all this I won't get in to on this post. Basically, what it comes down to, is that I really don't want the prospect of money from another stimulus plan payment to turn out keeping my case open; or, even worse, to cause a problem with the wife v. Trustee again. 'Cause the wife isn't going to give up her share of any other stimulus money--that's guaranteed.
Anyone have any thoughts on what another stimulus payment may cause to such situation?

[TEW]

Sorry to hear about your troubles.
but since you are discharged it shouldn't make a difference. the $500.00 stimulus isn't an asset like a tax refund is.

[Trixie007]

the $500.00 stimulus isn't an asset like a tax refund is.

Does that mean if they declare that they are going to make stimulus payments, we don't have to exempt it when we file? Or are you talking specifically to the OP because of the discharge?

[magyar123]

I wouldn't hold my breath of that "stimulus" payment coming any time soon.

[optimistic1]

from what I understand, it is not going to be a check like last year, instead it will be less taxes off your payroll check.

[outsidetool]

Well, it is true that Congress is not exactly all done hashing it out--and I guess it could be true that it may escape being considered an "asset" which would have been pending at the time of my filing. But, still, I wouldn't be surprised if my Trustee made a stab at it.

[TEW]

Well, it is true that Congress is not exactly all done hashing it out--and I guess it could be true that it may escape being considered an "asset" which would have been pending at the time of my filing. But, still, I wouldn't be surprised if my Trustee made a stab at it.

I got the last stimulus a week before i filed. It was not counted as income and trustee did not ask for it. Its not the same as a tax refund where you were putting that money away all year like a savings account.

[outsidetool]

I got the last stimulus a week before i filed. It was not counted as income and trustee did not ask for it. Its not the same as a tax refund where you were putting that money away all year like a savings account.

I guess my thought on this goes this way: The last stimulus check deal was "roughly" it seems based on your filing status for 2007. Both the number of dependants and income that year played a factor. If Congress does now decide to directly hand out $$$ similar to last time through, the basis or any restrictions would likely, again, be the previous years' finances--in this case 2008. Just coincidentally the very tax year that my Trustee fussed over for any tax refund that may be due. My wife and I are filing seperately for 2008; I will owe money. The battle with the Trustee over the fact that my wife will get some money back has already been fought, and supposedly won. I dunno; frankly if I were a Trustee I'd be quite looking at this situation to see if I could grab a few bucks.

[laurannm]

The $500 per person/$1000 per couple that is part of the stimulus would be issued through a reduction in payroll takes, as opposed to a lump sum payment.

[jeb]

The $500 per person/$1000 per couple that is part of the stimulus would be issued through a reduction in payroll takes, as opposed to a lump sum payment.

In other words, if you still have a job you make out but if your are a part of the out of work you are screwed. - jb