My life is on hold

[queenfluff]

I am just wondering if I am the only who feels like their entire life is on "hold" when doing BK. I am Ch 7 and unemployed and I can't even get a job while I do this because my income can't increase (not that I have any income now). I have not much money left which of course I need to keep for necessities and no car at my disposal so it is not like I can go away on a vacation or something while I wait the time out. I wish there wasn't so much waiting after I file.

Maybe I just get bored easily and I definatley know I am impatient...but is anyone else feeling like this? Like they have to wait until the whole thing is over until they can start their life over again and get back to "normal"?

Ugh, too much waiting...

[huntersmommy]

I agree! We're down to hopefully the last 11 days but it's seems like eternity. It just feels like you're afraid to do anything because of the fear of making the process drag out longer. Example: Well we can't do that or they might see it as us doing that and then they'll extend it 30 days.....ugh. Oh well, hopefully things will go smoothly and the wait will be over soon.

[relief13035]

I too, was impatient. All I can say is that it's worth it in the end. Life is exuberating when it is all over. Hang in there!

[jb1231]

Hang in there! I also feel like my life is on hold in the sense that I'm holding my breath and can't wait to just exhale (if that makes any sense).

[jb300]

I feel the same way and I am not even started yet. Still trying to find the right attorney and trying to keep everything going and keep all my records up to date(I have a small business) so I have so much to stay on top of and watch every move I make.

[BkinTX]

I have wondered about this although my husband says our spending is not in question (we file Monday). Not paying CCs has freed up so much money. Should we be careful about how we spend?

[queenfluff]

thanks guys! I am glad I am not alone!


BKinTx, you need to be careful of spending before you file but I am wondering about the after myself.

My lawyer said it is OK for me to use the debit card or withdraw cash from the ATM. I even though my bf was able to get food stamps which is saving money on I still have other things to buy that the food stamps don't pay for.

I know I have to be careful of a few things that my lawyer told me - this applies through the whole process - not just after I file the papers I guess.

1. My income can't increase - so no job getting.

2. Don't give any big amounts of cash to anyone - not that I have any.

3. Don't accept any big amounts of cash from anyone

4. Don't sell any assets - I don't have any big ones - but I guess like furniture or something else I might be able to get a price for (applies to 0.5% of my stuff).

I am wondering about the spending too. I have seen some people say that after you file that you can go and sell items on Craigslist or Ebay and they (trustees) can't touch that money. But I don't know - that doesn't seem right from what my lawyer told me.

I am being extra careful with my cash I have left- just food or personal items I am using the debit card or cash for - I have limit funds left anyhow so I will only be spending on neccessities.

And when can I really start looking for a job again? Will it be safe to get any kind of salary once the case is closed?

[tatt2monster]

How can people pay for an attorney w/out a job?

This is a whole different ballgame and something I have not thought of.

Should I postpone looking for a job this summer? I'm in school working on a degree so it wouldn't appear to an employer that I'm sitting around eating bon bons, assuming anyone was hiring, as previously pointed out. But still, I need the money.

My life has been on hold since last Sept, sounds like I get to spend the whole summer taking handouts from family and doing things that don't cost money: lots of long walks and trips to the library <sigh>.

[fltoo]

thanks guys! I am glad I am not alone!


BKinTx, you need to be careful of spending before you file but I am wondering about the after myself.

My lawyer said it is OK for me to use the debit card or withdraw cash from the ATM. I even though my bf was able to get food stamps which is saving money on I still have other things to buy that the food stamps don't pay for.

I know I have to be careful of a few things that my lawyer told me - this applies through the whole process - not just after I file the papers I guess.

1. My income can't increase - so no job getting.

2. Don't give any big amounts of cash to anyone - not that I have any.

3. Don't accept any big amounts of cash from anyone

4. Don't sell any assets - I don't have any big ones - but I guess like furniture or something else I might be able to get a price for (applies to 0.5% of my stuff).

I am wondering about the spending too. I have seen some people say that after you file that you can go and sell items on Craigslist or Ebay and they (trustees) can't touch that money. But I don't know - that doesn't seem right from what my lawyer told me.

I am being extra careful with my cash I have left- just food or personal items I am using the debit card or cash for - I have limit funds left anyhow so I will only be spending on neccessities.

And when can I really start looking for a job again? Will it be safe to get any kind of salary once the case is closed?

From your posts, it seems like there is no other income involved. You can get a job now, just make sure it is under the salary on the means test so it does not affect your chapter 7 filing.

After filing, or after the 341 meeting, you can make as much money as you can from salary or anything you sell.

Is there any other reason for not getting a job now and not placing your life on hold?

[NoMoreRed]

My life has become very uncomplicated after discharge. Just hang in there.

[jb1231]

It's just rough. One day I feel like everything will be fine and the next day it's like "ohmigod, ohmigod, ohmigod! They're going to FRY me!"

[queenfluff]

From your posts, it seems like there is no other income involved. You can get a job now, just make sure it is under the salary on the means test so it does not affect your chapter 7 filing.

After filing, or after the 341 meeting, you can make as much money as you can from salary or anything you sell.

Is there any other reason for not getting a job now and not placing your life on hold?

Hi fltoo,

Thanks! You give really good advice.

My lawyer told me i should not get a job until the process is over because my income can't increase (change) while going through this. I still have some money in the bank - $3,000 right now. This is left over from my last 401K withdraw of $5,000 back in February. This is counting as my "income". My lawyer sort of split it up for the last six months to come up with a monthly income for me even though I don't have a job plus my "overhead" is superlow- low. I pay no rent, utilities, or car right now. Just food things and pet care mostly. So, maybe it looks like any money I earn will be available to pay my creditors?

Anyhow, that is what my lawyer told me. Don't have my income increase or it could negatively effect my case. He stressed it several times. I guess I would rather be safe than sorry. Do these rules differ by state maybe? I am in Wisconsin.

But since you said I could conceivably get a job - what about a small job that pays cash? I could possibly have an opportunity to work a few days a week for cash somewhere (very low paying of course).

I am probably an overly cautious person but I don't want to give anyone any reason to dismiss my case.

Oh, normally, I would have a job that pays around $55K + a year (not that there are any "real" jobs available in my field right now) so I would definatley be nervous to accept a job in my normal field right now.

I guess I should be grateful to be doing this when the economy is real bad - at least, when I start interviewing for jobs again and they ask about the gap in time - I can always blame it on the economy - and not bankrutpcy.

[NOVA]

Hang in there! once all this mess is over with you'll feel soooo much better. I also have not started yet, but have been looking into this of and on for about 2 years now. I'd get so scared, that hubby and I would back off again.

But now we can't handle it anymore. Me worse then hubby, since I do all the finances. I'm up at night (pulled an all-nighter last night), researching. This seems to be a wonderful board - i'm glad I found it! so much information and the pp are great.

Good luck to you!
M

[fltoo]

Good deal Queenie. A job paying cash is not a problem, with the BK, of course.

[chad9162]

Ironically, filing BK has not put my life on hold but instead has given me a better outlook on life. Although, nothing has really changed in my life.

As for some of your points on getting a job and selling personal property. I don't really understand. If you withdrew money from your 401K then it would be considered income for that month. Why continue to withdraw money from an exempted asset. Instead wouldn't it make more sense to get a job and use that money for living expense, money that is not protected.

Like fltoo said, as long as your under the median income for the means test I don't really understand your attorney's logic. At the same time that $3,000 could be paid back to the 401K, again protecting it. Unless you took out an enormous amount of money from your 401K that would put you over the median income, I don't understand. What if you put it back, would it still be considered income? IRS says you can withdraw money from retirement account for so many days before income tax is applied. I wonder if its the same.

As for selling personal items, I think its find as long they're exempt in the first place. You just have to show you sold it at Fair Market value and preferably to a 3rd party. Not a family member.

Most of the guru's here advise people to have an income that can sustain current expenses before filing BK, incase something else happens. After you discharge say you get a $5,000 medical bill. That could have been included in the BK. Not having a job is a big unknown after discharge. I can see why you are feeling your life is on hold.