After Filing, before...

[doron]

Currently before the 341.

Also asking about the period between the 341 and discharge. (knock on wood).

What's allowed, what's not?

If you won the lottery, I'm sure you have to cancel the BK and pay your creditors which might suck if you only won half of what you owe.

What else? Do they look at your bank accounts? Can you buy yourself or a family member a gift of about $200, assuming you can suddenly afford it? Holidays coming up, and I'm not a big shopper, but, still...I've been living without fun stuff for a long time, and could use the cheer. Would like to give a little something too.

[tcreegan]

Hi doron,

What else? Do they look at your bank accounts? ...never heard of a trustee wanting anything past the 341 except tax returns to recover tax refunds.

buy yourself or a family member a gift of about $200 ...in the big scheme of things, this is not exactly high stakes

If you won the lottery, ...can I be your best friend?

Tom in Colo

[doron]

LOL.

Am I the only person who worries about winning the lottery?

Thanks for the advice.

[oregonpilot]

Ok doron.
do you have a ticket that you're not telling us about. LOL
I can't find a smiley thats .....Rolling On the Floor Laughing.

[doron]

LOL, no...

I just think about this stuff...

[oregonpilot]

I've dreamed about winning the lottery too.
Hummmm guess that might be tough considering i've never bought a ticket.

[tobee43]

Hi doron,

What else? Do they look at your bank accounts? ...never heard of a trustee wanting anything past the 341 except tax returns to recover tax refunds.

buy yourself or a family member a gift of about $200 ...in the big scheme of things, this is not exactly high stakes

If you won the lottery, ...can I be your best friend?

Tom in Colo

tom, your too funny!!!


doron, usually, the trustee doesn't have time to "look back".........

you should be fine at this point...however, just because i was so paranoid, we waited out the 60 days and discharge was rec'd to feel "safe"...whatever that's suppose to mean...LOL!!

[BKlooker]

From what i have read (not a lawyer, but done a lot of reading on here), basically anything past your filing date and/or the month that you filed in is yours outright (it's part of BK law). As one person put it...BK is a snapshot in time, not a saga.

In truth, anything past your filing date is yours, but if you present the statement for that full month and there appears to be anything fishy as far as new assets or large deposits there, the trustee might start to probe a bit more. But as far as expenses go, i doubt it matters much (trustees care a lot more about your assets than your expenses).

And yea, $200 isn't exactly earth-shattering as far as gifts go. Just remember to spend lightly this holiday, since you are trying to start fresh after all.

[tcreegan]

gotta be careful nowadays BKL, the 'snapshot' concept is old BK law, new BK law uses 'forward looking' schedules and has a 'totality of circumstances' clause...

You got it right, trustees are not very interested in expenses (unless its the UST on the means-test) ..its the assets they crave most..

...so in a BK, it pays to watch your assets

Tom in Colo

[BKlooker]

TC you are right about the schedules being forward looking and the totality issue, but that has little to do with the fact that the law (as i understand it) still says that anything "normal" that you would acquire from the day after you file forward is yours. There would be little point to a BK otherwise.

For example, if you get paid 2 days after filing, the trustee has no claim to a penny of it because it occurred after you filed. The whole point is everything of your estate that existed up until you filed is indeed a ward of the trustee....but from there forward, it's your (with the exception of tax refunds in some cases, which they may try to get you to sign away).

The orignal question posed was that happens once you have filed as far as "watching your money", and i was saying as long as you existing off your normal means of employment, etc., and things you have already declared/exempted, you have no worries.

[bellows321]

Oh please, if I won the lottery, I'd send my creditors their full amounts. Even if it the jackpot was in the amount that would only cover my debts and I would have nothing left over for myself, I'd pay them all. At least I'd have my paycheck all to myself.

[clevelandmom]

Bellows, you are better than I. I'm sure I would still pay them too, but I would demand a copy of every single cc statement, add up the amount of the items I purchased, and (maybe, if I'm in a good mood), pay them at the LOW interest rate originally promised to me - NOT the inflated percentage rate they came up with and all their ridiculous late fees and attorneys fees. No wait, no, I wouldn't do that. I'd still try to just settle with them. Maybe $0.30 on the dollar. LOL They're such greedy bastards and I'm so damn mad about it. So I think instead I'll just settle with them and share my winnings with everyone here on this board. We can all fly to an island somewhere and have a party.

[tobee43]

TC you are right about the schedules being forward looking and the totality issue, but that has little to do with the fact that the law (as i understand it) still says that anything "normal" that you would acquire from the day after you file forward is yours. There would be little point to a BK otherwise.

For example, if you get paid 2 days after filing, the trustee has no claim to a penny of it because it occurred after you filed. The whole point is everything of your estate that existed up until you filed is indeed a ward of the trustee....but from there forward, it's your (with the exception of tax refunds in some cases, which they may try to get you to sign away).

The orignal question posed was that happens once you have filed as far as "watching your money", and i was saying as long as you existing off your normal means of employment, etc., and things you have already declared/exempted, you have no worries.

i totally agree with that BKL....after all bk is "suppose" to be a way to start a new life.and, your correct in my opinion...if not why file in the first place?

excellent point!

i think the bk experience itself is so invasive that many just can't understand or see clearly when it will "all" stop.