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    Between filing & discharge

    I've tried to find this info on the forum, but haven't been able to find a similar situation.

    Our attorney filed our no-asset Chap 7 petition on 5/25, our 341 is scheduled for 6/23/11. We owe about $35,000 in unsecured debt. We're well below the median income for our state. Our attorney has said several different times that once we filed the bk petition, how we spend our money becomes a non-issue due to the fact that the petition is a "snapshot" of our financial situation on the date we filed. Is this really so?

    We ended up filing because of being sued by several CC, we're not really going to be ahead financially speaking, because we haven't been able to make any payments for at least 2 years anyway, except for a line of credit through our credit union that was set up to come out automatically from our checking account every month. I have been unable to work for medical reasons since late 2008, our home was foreclosed on in 6/2009. Luckily, my much older sister owns an old house she received from my parents before they died & she has been letting us live there. We have not paid rent, but have made some needed repairs to the house when we've been able to squeeze some money out of our budget.

    When I was forced to quit my job I also sold my car, since we couldn't afford the car payment. We own an older car ('96 Honda) driven by my kids for school/work & even older truck ('94 Dodge) driven by my husband, no loans on either for many years.

    My sister owns a '98 Jeep Grand Cherokee that her son was driving, until the vehicle no longer passed inspection due to numerous repairs needed. Paying for the repairs would cost more than the vehicle was worth, so she offered it to me. Over the last 4 months my husband & his brother have been able to get the Jeep road-worthy, but we haven't transferred the title, because we haven't been able to afford to pay the taxes, license fees & insurance. I need an extra vehicle for doctor visits, grocery shopping, other necessary errands - trying to schedule my life around the availability of a vehicle has become a real hardship.

    Should we wait until our discharge before doing anything with this vehicle? Or is it really as our attorney described, that what we do after the petition was filed is a non-issue?

    #2
    Originally posted by arteemus37 View Post
    what we do after the petition was filed is a non-issue?
    This is the key question that I see. Is what you do after filing a non-issue.

    In my opinion, what you do after filing can be an issue. What you do before your 341 can be an issue. What you do before your discharge can be an issue. What you do before closing can be an issue.

    And most importantly, what you do after discharge/closing can be an issue you were not 100% honest in your filing.

    The jeep? Probably not an issue, but I would not be transferring anything before the discharge at the earliest, even better, wait until after your case closes.
    All information contained in this post is for informational and amusement purposes only.
    Bankruptcy is a process, not an event.......

    Comment


      #3
      Well, that's kinda what I thought, also, but the attorney seemed pretty sure about it. This sucks, I'm really needing some transportation right now.

      I wish this whole situation was at an end, I'm constantly second-guessing myself & everything I'm told...drives me nuts. I feel guilty about everything I spend money on now.

      Comment


        #4
        I don't think there's a problem since your estate is determined as of the day of filing a ch. 7, but if you're not sure, can't you just ask to borrow the car for now?

        Comment


          #5
          I would not do anything at least until the 341, maybe not even then. One thought here, if your kids are using a vehicle to drive to school, you need for store, appts and etc, why not let the kids take the bus to school or you take them, keep the car during school hours for your use? Then let the kids have to use for work.

          Fact is, you are in BK and it affects the whole family. While I realize that we all want our kids to have more than us, this is a time when everyone in the family must sacrifice. Also, isn't school out for the summer now? That should help out as they won't need the car during the daytime. Just some thoughts.

          Maybe your attorney is right on and it won't be a problem however, I would not take a chance on anything that would come up at my 341. If it isn't in your name now, let it be at least until 6/23, it's only a week.

          Good luck!
          Filed CH 7 4/15/11
          341 5/23/11
          DISCHARGED & CLOSED ON 7/27/11

          Comment


            #6
            Originally posted by stratos View Post
            I don't think there's a problem since your estate is determined as of the day of filing a ch. 7, but if you're not sure, can't you just ask to borrow the car for now?
            The license plates are expired, but I may have to end up borrowing it, if my sister will renew the plates.

            Comment


              #7
              [QUOTE=sunshinepa;525108]I would not do anything at least until the 341, maybe not even then. One thought here, if your kids are using a vehicle to drive to school, you need for store, appts and etc, why not let the kids take the bus to school or you take them, keep the car during school hours for your use? Then let the kids have to use for work.QUOTE]


              My son's grades suffered over the last year, and he is now attending a summer school credit recovery program, so he still requires the vehicle (he's a senior, he needs to complete this program to get his diploma). I don't think a bus is even available, at least for the upper grades. To be quite honest, my son is gay, growing up in a small rural, redneck, town in the middle of Missouri, and he's been in hell for the last 3-4 years. The car is a way for him to escape from this area, at least for a few hours a day, sometimes more if he spends the night at friends houses out of the area. I don't want to take that away from him, and don't plan on doing so. If I have to wait for a vehicle to drive myself, then I will.

              Thanks for the advice! I'll probably wait at least a couple of months, if not longer. I've already waited this long...
              Last edited by arteemus37; 06-15-2011, 03:01 PM.

              Comment


                #8
                I hope your sister can renew the plates for you and get some basic insurance on the vehicle. I also would not transfer property until after my case were closed.

                You are a special mom for recognizing your son's need to escape. May he graduate and move to a place that is welcoming and where he can be happy and live his life to the fullest.

                I can relate to your son's plight. My brother was gay in a small rural town too. It was brutal until he could graduate highschool and find his own way with his true friends. There is a life out there waiting for your son to reach out and grab. May he keep his chin up until he can truly escape your town.

                warmest regards,
                Lala
                This forum is full of amazingly talented, intelligent and caring people.
                Ch7 BK filed Pro se: 6/2011; 341 Meeting: 7/2011; Assets abandoned; Report of No Distribution: 8/2011; Discharged and closed 9/2011.

                Comment


                  #9
                  Thank you, Lala, for the kind words...it's been a real challenge for my son, but he has made the best of it. I'm very proud of him!

                  Comment


                    #10
                    put the vehicle in your kids name....

                    Comment


                      #11
                      Originally posted by angelasdad View Post
                      put the vehicle in your kids name....
                      No, No, No.
                      All information contained in this post is for informational and amusement purposes only.
                      Bankruptcy is a process, not an event.......

                      Comment

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