Aaaaahh!!! A bonus!!

[jdcat]

We are literally going to be filed within the next ten days and hubby comes home with a performance bonus today!! A little over two thousand dollars! I've read and re-read so much on this forum but I am just drawing a blank right now as far as what we can spend this money down on pronto. We can pay off the rest of our auto ins for a little over $600, fund our kids' lunch accounts for the rest of the school year which won't be much, and buy a ton of groceries but what else??! Help me! Gas cards? What else?

This is way to much for us to exempt so that's a no go. I'm panicking and hubby is stressed to the max!

Please help!

[ForumReader]

We are literally going to be filed within the next ten days and hubby comes home with a performance bonus today!! A little over two thousand dollars! I've read and re-read so much on this forum but I am just drawing a blank right now as far as what we can spend this money down on pronto. We can pay off the rest of our auto ins for a little over $600, fund our kids' lunch accounts for the rest of the school year which won't be much, and buy a ton of groceries but what else??! Help me! Gas cards? What else?

This is way to much for us to exempt so that's a no go. I'm panicking and hubby is stressed to the max!

Please help!

How about going to a wholesale club (BJ's, Sam's, etc) and get items in bulks such as toilet paper rolls, paper towels, etc necessities stuff and stock up? Gas cards are a good idea, too. Lots of things to spend down with necessarily. Good luck with your filing!

[tigergem]

Could you prepay some of your utility bills?

[tigergem]

401k? (lol! I dunno... I'm just thinking)

[olivies]

Gas cards. Visa gift cards. New clothes for the kids for the summer. Any deferred vehicle maintenance?

[jdcat]

Thank you all. I'm not sure what were going to do. I just got off the phone with my attorneys assistant who said our petition is just about ready. This is a big problem for us because according to the assistant we could be ready to go by Monday. And in order to keep this cash off of the six month look back we need to file by the end of the month. There is no way we can spend all of this by Thursday at the latest! I cannot believe this!

Hubby has gotten bonus checks before but always in July, never this early in the year.

Hubby is at the bank now cashing this stupid thing and I'm gearing up to go to Walmart and the pet store and Kohl's and the gas station. I'm just going nuts.

My kids birthdays are in May and June and I'm afraid to spend anything for their birthdays because I don't have the go ahead from my attorney to spend it on things like that. He's in court and I don't know when I'll hear from him. Would $100 per child be to much?

I never imagined this scenario so am totally unprepared.

[ForumReader]

Thank you all. I'm not sure what were going to do. I just got off the phone with my attorneys assistant who said our petition is just about ready. This is a big problem for us because according to the assistant we could be ready to go by Monday. And in order to keep this cash off of the six month look back we need to file by the end of the month. There is no way we can spend all of this by Thursday at the latest! I cannot believe this!

Hubby has gotten bonus checks before but always in July, never this early in the year.

Hubby is at the bank now cashing this stupid thing and I'm gearing up to go to Walmart and the pet store and Kohl's and the gas station. I'm just going nuts.

My kids birthdays are in May and June and I'm afraid to spend anything for their birthdays because I don't have the go ahead from my attorney to spend it on things like that. He's in court and I don't know when I'll hear from him. Would $100 per child be to much?

I never imagined this scenario so am totally unprepared.

That is something, getting the bonus unexpectedly this early for you guys and filing at the same time. $100 per child for his/her birthday sounds reasonable to me.

[idainc]

I'm in almost the same boat. What about buying an exemption ( tools of trade ) ? An idea was to buy it and keep the original reciept ?

[DeadManCrawling]

I'd really load up on groceries and definitely prepay the insurance. As I posted on another thread, our insurance company, Geico, demanded full 6 month payment after we filed, and others have had their insurance rates increased as a result of filing. That would be a wise thing to counter.

I would avoid using checks if at all possible. If they do not clear by filing day, the money is an asset, regardless of any outstanding checks.

[lalap123]

Do you have any animals that need a vet visit? How about house repairs? Any doctor/dentist/ visits? Do you have enough medicine in your medicine cabinet or clothes for the summer? I'm sure you can spend a reasonable amount on birthday gifts, but I don't have a clue as to what amount might cause the trustee to question it.

Otherwise look at it this way...be grateful that you got money to get caught up and/or ahead on bills and other necessities (and that you can spend it without it counting towards your 6-month look back!!). If the trustee wants what's left, so be it. You'll be getting rid of your debt for a very small fraction of what's actually owed. And you never know - depending on what's left he may not even move to take it.

[ejhamilton]

stock up on food and toiletries. We spent our tax refund stocking up on toiletries and food for the two of us, buying my husband work clothes and shoes, paying up all utilities, a new mattress(only $300 & ours was ridiculously old-even took a pic if they complain,lol), tune up for the car, buying both of us some regular clothes, and he will be getting a much delayed crown put in ($1000). I've kept all of our receipts. We haven't purchased anything remotely close to luxury. Our pantry is full and we have filled every closet in our condo. Go to Sam's and buy everything you need for the next year. If you spend it all on things you need, they can't really say anything. I'm also getting immunizations for nursing school($300) and we're taking the dogs to the vet this weekend to get their immunizations up to date.

Prepay the car insurance, not sure if you can buy for an entire year.

Keep all your receipts. As longs as you don't go buying some luxury item you should be fine.

[sadbutinneed]

I think you'll be surprised after taking the suggestions mentioned how fast the 2k will go. It's easy with a family of four, cars, insurance to work through that amount pretty quick. Good luck!

[Depressed]

Does the bonus in anyway mess up your six month look back for income. Since you haven't filed yet, won't it have to be counted?

Go stock up on as much food as you can, get the cars serviced, etc.

[azpt22]

Can buy gift cards to walmart or grocery stores??

[bobbyquefour]

Gas cards. Visa gift cards. New clothes for the kids for the summer. Any deferred vehicle maintenance?

Umm, you can't spend $2000 by Thursday? Are you kidding? Sure you can!!