Not only am I bankrupt, I am broke!

[LizardTail]

I've just about had it with this poverty style living. I can only sell so much on ebay for gas money!

My Bk was discharged and closed sometime in April. I'm needing to cash in my 401k, but I hear that would be a bad decision.

This is a quote from a different post, but "If any big money shows up within a year after discharge they can reopen the case." IS THAT TRUE???

I am currently appealing a unemployment claim where the employer SIGNED an agreement that my employment would end on such date, yet the unemployment people say I quit. The only job I have been able to secure is to sell mass products out of an individual's home on ebay. (She has an ebay store, and I'm making $8.00 an hour. Last year my salary was $55,000 per year, but the firm I worked for took a huge hit when the senior partner was acquitted for money laundering. It's a mess and I have no where to turn.

The small 401k would be to keep my car and make some house payments.

Any advice?

[keepmine]

I've just about had it with this poverty style living. I can only sell so much on ebay for gas money!

My Bk was discharged and closed sometime in April. I'm needing to cash in my 401k, but I hear that would be a bad decision.

This is a quote from a different post, but "If any big money shows up within a year after discharge they can reopen the case." IS THAT TRUE???



Any advice?

No, that's not true.
All I can suggest is redouble your efforts to find a job. Hopefully you didn't reaffirm the mortgage or car loan.

[despritfreya]

In response to:

"If any big money shows up within a year after discharge they can reopen the case." IS THAT TRUE???"

ABSOLUTELY NOT TRUE. The only after acquired assets that become assets of a Chapter 7 estate are an inheritance, a beneficial interest in life insurance proceeds or property settlement to which you become entitled to within 180 days of the filing date. See 11 USC 541(a)(5). Of course, if the source of the "big money" is from a claim you had on the day you filed, which you failed to disclose then, it belongs to the Trustee. Certainly $$ from your 401K IS NOT included in this.

[LizardTail]

I did reaffirm the house and the car. My very present and very pressing situation is the car and house. I am going to have to borrow money from my mother tomorrow to get these items taken care of.

I am not well and I do have Cobra that needs to be paid. I'm seeing the urgency more clearly now.

I am most likely set to inherit quite a large sum of money in 2011, if not shortly before, which will be 180 days after discharge. I calculate my discharge date was April 15, so, October 15th, I should be clear.

Both of my parents are not well and in all honesty, and I hope it doesn't happen, but it could, before October 15th.

[tcreegan]

small ray of hope

Hello LizardTail,

Man, you are so..... can't think of a polite word....

No real job, reaffirmed house, car, making COBRA payments....if you had a financial advisor I would sue for malpractice.

I did see a small ray of hope for you.....

you become entitled to within 180 days of the filing date. See 11 USC 541(a)(5).

It is 180 days of filing, not discharge.

God bless, I'll say a little prayer for you,

Tom in Colo

[kartoons19]

LizardTail, I'm so sorry to hear what you are going through. You already got the answers you wanted in your post and as Tom mentioned, it is 180 days from filing. Hang in there, I hope things get better for you soon.

[LizardTail]

Grim Picture

Yes, it is a very grim picture right now, but I do have some avenues. I just don't want to TAKE them. There is in excess of $4 million dollars that will be divided up between 4 children next year with oil royalties to continue for life. But, this will be NEXT year, not tomorrow when I need it. I just simply hate to ask for help! I think I'm going to have to.