Finances between filing and 341 hearing

[lkool]

What can I spend/save between filing and the 341 hearing? I am just curious and cautious I don't want to do something that will bite me in the ...

I was advised to stop paying my creditors. Could I use a portion of what I use to sent to creditors to by a couch or patio furniture or put money down on a vacation reservation or buy a bookshelf or buy a lawn mower?

Maybe I can't do any of these things....

What is legal and what is not?

[kornellred]

Since this is your very first post, and you state that you have been "advised" to stop paying your creditors: was that advice from a bankruptcy attorney? If so that attorney is equipped to tell you what you can and cannot spend your money on in the interval between filing and the 341 meeting. You can forget about luxuries (and vacations are a luxury) - if you are filing Chapter 7 the trustee will confiscate any property not exempt in your state, and a Chapter 13 filing will be dismissed out of hand if there is any indication of fraud or frivolity.

Besides - there is only a month or maybe two between filing and the 341 meeting - not much time to do anything blatantly unlawful.

[BKDefender]

lkool, If the money you are talking about spending is from your wages earned after you filed bankruptcy and the reason you have the excess money now is because your debts were discharged then you're free to do with it what you want. Having said that, I would advise that you not go out and buy a couch or anything like that until after your first 341 meeting. Even though the trustee might lack the explicit power to do anything about it, the trustee can make your case uncomfortable if he/she suspects you were hiding money in a safe because all of a sudden you had $800 to buy something after filing bankruptcy.

--William