....is it really a big deal?
In Feb. my mom loaned us $1000 to pay our mortgage before it was late. Husband is self-employed and we were waiting on payments for jobs to come in. A week later after we got paid, I paid the money back to my mother.
I know this is insider, and I am hoping I can wait a year to file, but if for some reason I get sued (stopped paying cc's in Feb. also) before then and have to file, will it be a big deal?
Can I have some cash ready to pay off the trustee if he objects to it? Say, offer him $500 cash to settle it?
Also, I don't know if this will make a difference, but she deposited the money to our personal account, but when I paid her back I paid from the business account. I will be filing single because all the debt is in my name except the home which is joint. Husband is the only owner of the business, so will the trustee even look at the business account if I don't own it?
In that case, the $1000 would look like a gift and would just be considered income.
In Feb. my mom loaned us $1000 to pay our mortgage before it was late. Husband is self-employed and we were waiting on payments for jobs to come in. A week later after we got paid, I paid the money back to my mother.
I know this is insider, and I am hoping I can wait a year to file, but if for some reason I get sued (stopped paying cc's in Feb. also) before then and have to file, will it be a big deal?
Can I have some cash ready to pay off the trustee if he objects to it? Say, offer him $500 cash to settle it?
Also, I don't know if this will make a difference, but she deposited the money to our personal account, but when I paid her back I paid from the business account. I will be filing single because all the debt is in my name except the home which is joint. Husband is the only owner of the business, so will the trustee even look at the business account if I don't own it?
In that case, the $1000 would look like a gift and would just be considered income.
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