Depositing money after discharge

[everwonder]

Hello

I just received my discharge for my Chapter 7 bankruptcy (no assets). I have a friend that is possibly going to rent a room in my apartment and pay me $1,000 a month cash. My question is will this raise red flags with the trustee if I deposit $1,000 a month into a savings account? I'm not doing a lease with him so I will have no way to prove this extra income. This is a really good way to start getting my finances back up to par but I don't want to have any problems as well. Thank you!

[poorold]

if you don't own the property, it's not rental income--you are just splitting the rent and have effectively just reduced your monthly expenses.

if you're done and dusted it shouldn't be a problem.

Good for you implementing a plan to improve your financial footing.

[keepmine]

Once discharged, your financial affairs are your own business. You ca do as you please-nobody is looking over your shoulder.

[everwonder]

Thanks for the info

Thank you for the information. I was worried because I saw a few posts on this website regarding a case can be re-openened 180 days to 1 year after discharge. Its good to know what I am paid by my roomate can't be taken from me!

Jason

[music12]

a case can be reopened, but it's only if fraud is discovered or pre-filing assets that weren't disclosed. you don't have to stay bankrupt forever! that's the whole point.

btw, it won't be a bad idea to have something in writing with this tenant. why are you doing something that's untraceable? sometimes having a record of what's going on can be a good thing, to protect yourself.

[everwonder]

Maybe I will do a small written contract with my friend. I just think it may put a weird twist on our friendship like I don't trust that he is going to pay me rent. It's only for several months so it won't be that much money. I read a post where someones case was reopened because their tax returns were like $2,100 and that is rediculous. I would rather just not do this if it means my bankruptcy will get reopened. Thanks for the advice.

[music12]

it won't get reopened just because you are subletting to a friend. i guess you are doing it all in cash because you are afraid of the trustee? well, you have nothing to fear in my opinion. i also think you can use the cash instead of the atm, rather than depositing and withdrawing. imo, respect for money is gained when you actually touch it. money loses its gravitas when it's just numbers on a computer screen.