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Unnerving cash in hand?

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    #1

    Unnerving cash in hand?

    Unfortunately (I can't believe I used that word) I just got a substantial settlement check from a class action suit. My attorney and I had discussed this settlement prior to the filing and listed it under our asset schedule as to exempt it. I know every should be covered (thank you California for the exemption system 2!!!), however I find it a bit unnerving to have a few thousand dollars sitting in our checking account just days after filing and headed into our 341. Yes, I know it is all exempted, yet I still find it unnerving. My attorney told me a few minutes ago to not sweat it, just deposit the settlement check...but I feel like I should go cash it at one of those cash advance places with their not so generous fees and try to hide...LOL. I know that since it is listed and exempted, if the trustee asks if we received it I'll have to answer truthfully and if I managed it all in cash, then it will possibly look fishy and invite more scrutiny.

    Ultimately, I will stick with my attorney, he has given me no cause for concern thus far, but would be interested in hearing opinions.

    Thank you
    Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
    AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC
    Tags: None
    #2
    If he says your ok your probably ok. Cashing it at a cash advance will do little good. you would need to lie and might get caught.

    I agree it sucks. I will be getting my student loan right before filing and do not want to have to explain a 6000 check.

    Comment

      #3
      I hear you bigtim. We exempted 5100 and the check came out to 5273, so attorney says the trustee might want the 173...LOL. I laughed, he can friggin have it.
      Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
      AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC

      Comment

        #4
        sounds like a oil change, new battery, and maybe a spark plug change for your car is in order should add up to 173
        Originally posted by ccsjoe View Post
        I hear you bigtim. We exempted 5100 and the check came out to 5273, so attorney says the trustee might want the 173...LOL. I laughed, he can friggin have it.

        Comment

          #5
          I wouldn't worry too much about it. We filed around the same time we got a pretty good sized check. I was VERY worried about it, but the trustee simply asked what we did with the money and went on. It wasn't a big deal at all.
          Discharged Ch 7 9/10/08
          Livin' the GOOD life

          Comment

            #6
            Originally posted by nomoneynomore View Post
            I wouldn't worry too much about it. We filed around the same time we got a pretty good sized check. I was VERY worried about it, but the trustee simply asked what we did with the money and went on. It wasn't a big deal at all.
            I appreciate it. Money is just gonna sit in our checking account for now....maybe as bigtim suggests some maintenance work is due.
            Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
            AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC

            Comment

              #7
              ccsjoe,
              I understand completely. Our atty also says , "Not a problem" "Don't worry about it" "It's covered in your exemptions." but it feels odd now that there IS a LITTLE money in the bank. NOT SO when we were attempting to keep everything current and trying so hard to keep our heads just barely above water. I'm holding to the belief that our atty is doing his job and knows exactly what he is doing. What a whirlwind of emotions. I won't dare buy a lottery ticket!

              4 weeks until the 341.

              Not checked pacer yet......

              Comment

                #8
                Originally posted by cantbreathe View Post
                I won't dare buy a lottery ticket!


                Not checked pacer yet......
                The way my attorney is going, if he tells me to buy a lottery ticket, I'm all over it...LOL.

                Only checked PACER twice today, but found out how to run the Query by case number so I can check for updates without getting charged. I will of course get charged for looking at the updates...lol
                Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
                AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC

                Comment

                  #9
                  I bought one yesterday, I figure if I win 60 millon I can afford paying my 30 or 40k of debt of.
                  Originally posted by ccsjoe View Post
                  The way my attorney is going, if he tells me to buy a lottery ticket, I'm all over it...LOL.

                  Only checked PACER twice today, but found out how to run the Query by case number so I can check for updates without getting charged. I will of course get charged for looking at the updates...lol

                  Comment

                    #10
                    ccsjoe, what exactly are you learning on Pacer that is so compelling? You were filed just one day after us. We got our Notice of filing today in the mail from USBC.

                    Comment

                      #11
                      Originally posted by cantbreathe View Post
                      ccsjoe, what exactly are you learning on Pacer that is so compelling? You were filed just one day after us. We got our Notice of filing today in the mail from USBC.
                      I learned I am MEANSNO, DebtEd, who our trustee is, judge...and that's about it. I think it's called instant gratification, don't want to rely on having to wait for snail mail, must have information the second it updates...lol. Am I addicted? Yup!!!!!! Must there be a compelling reason for an addiction? Nooooooooo!!!!!!!!
                      Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
                      AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC

                      Comment

                        #12
                        i learned: DBFINMGMT, ABUSENO
                        I'm guessing the first is abt the debtor ed. I did it this morning.
                        filed: 8/10 ...341:10/8/10 ... Discharged & Close: 12/9/10
                        "Nothing is easy to the unwilling" Thomas Fuller

                        Comment

                          #13
                          Originally posted by oregonpilot View Post
                          i learned: DBFINMGMT, ABUSENO
                          I'm guessing the first is abt the debtor ed. I did it this morning.
                          Welcome to PA oregon!!
                          Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
                          AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC

                          Comment

                            #14
                            Ahhhh, well thank you. Seems i'm in great company.
                            filed: 8/10 ...341:10/8/10 ... Discharged & Close: 12/9/10
                            "Nothing is easy to the unwilling" Thomas Fuller

                            Comment

                              #15
                              I don't think you need to worry. You were honest about it from the start and that is the best policy. lol
                              I am NOT an attorney. This is NOT advice.

                              Comment

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