What can i safely spend money on?

[Jgoodall08]

I haven't filed yet. Just submitted all the
Paperwork for the atty to review.
A few months ago my husband and I
Purchased tickets for a comedy show for
Our anniversary. The show is at a casino.
Our plan was to spend the night away from
The kids. My husband was supposed to
Already have gotten $700 from a competition
He won. His friend hasn't given it to him yet grr
And that's how we were paying for the room.
So now I have to get the money out of my checking acct.
I'm thinking $300 at a hotel at a casino of all places
Isn't going to look good. Can I withdraw 300$ from checking
Without it questioned? Can I pay for a meal at a restaurant with
My debit card? Can I buy paint for my house? I have compound patches
All around my kitchen. Can I buy a floor for
My bedroom when my tax refund comes In? Theres
Bare plywood? Sorry about 100 questions.
What is safe and what isn't?

[SunshineGal]

There are a bunch of threads about what to spend a tax refund on, do a search and it should all come up. As for the Casino Hotel, I don't know what to tell you there. You may be better off taking out $100 at a time, then again, maybe your trustee won't care. Ask your attorney about that, he or she should be familiar with the trustees in your area. As for the home repairs, that should not be a problem. You may want to take *before and after* pictures just in case the trustee questions it, and I probably wouldn't get the most expensive/top of the line.

[MSbklawyer]

There's nothing illegal or wrong with going to a casino or eating dinner out or even taking a dream vacation while you're in Chapter 7 if you have the money to do it. There's nothing wrong with putting it all on your debit card.

But .... drawing attention to yourself and inviting closer scrutiny of your finances by the trustee or the UST is never a good idea and big ticket or luxury items may do just that. Even though you've been scrupulously honest in your disclosures, who knows what the trustee may find that may cause him to want to delve further into your finances and the next thing you know, you're going to a 2004 exam and your case and your discharge have been dragged out for a year.

Chapter 7 is usually over in 4 months or less. Why risk it? Why not wait? The casino, the hotel, the restaurant and your bedroom floor will still be there when you're done.

[tcreegan]

Hi Jgoodal08,

What is safe and what isn't? ....the casino vacation probably comes under the "isn't safe" category. This is something you want to clear w/ your BK attorney, they should know what is and isn't safe to do in your district w/ the local trustees.

Ordinary home repairs come under the "safe" category. No one expects you to live on a plywood floor.

In CT you have the option of using state BK exemptions or federal BK exemptions. Under the federal exemptions you can protect some cash w/ a "wildcard" And if you don't need to protect much equity in your home, this wildcard can be substantial.

Something to definitely talk to your attorney about!

Tom in Colo

[brobeau21]

We sold $6000 worth of stock before filing to pay our atty's fees and to replace some very rotten windows in our home. Our bk atty said it would be fine and advised the before and after pics just to CYA and I read several of the threads on this forum and got really good advice. It has not even been mentioned and we are less than a month away from our 60 day period and discharge and our atty has said that there are no problems that have been brought up. The trustee did not ask about our tax refund either thank goodness! So I don't know if we were just very lucky or if the area we are in is just a good place for filing BK.

[BKParalegal]

The saying is pigs get fat, hogs get slaughtered. Spending money on reasonable expenses are fine, no one gives a crap about anicillary expenditures.

Had a client (former actually we terminated the contract) get some funds before filing and no joke this person spent $8000 on a bankruptcy party with friends. That is an expense that gets you in trouble.


Good luck

[discouraged]

Wow - I can't imagine someone that stupid! It's like they were saying to the court, Hey - look at me, I can do anything. Hope they dismissed the case and had him spend some time in jail for fraud.