I filed for my Chapter 7 in April and still waiting for my discharge/Closing, which should occur end of July. My 341 went smoothly and no issues were raised, TT filed no asset report. Not reaffirming my mortgage. My fiancé and I are getting married 2nd week of Aug and my parents want to give us a gift and spend for the wedding. Would it be wise for me to accept cash now?
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It probably makes no difference, but why are you in such a hurry to spend? It's only May. -
It does not make a difference unless it's an inheritance. Otherwise, enjoy your lives. As stated by kornel, you could just wait to be married. Unless there is some rush, there's no need to do it before discharge.Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
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Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.Comment
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Have you ever planned a wedding? The wedding is in 2 1/2 months. Even a modest wedding takes some time to plan. Unless they are having a potluck in a family members' backyard or are have somebody catering the reception as a gift, there will be deposits to pay.Originally posted by kornellred View PostLadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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Have at it! If you want to err (over-err?) on the side of caution, you can always keep track of the gift(s) by depositing the check(s) so they are visible, and keeping copies of the receipts. Pretty much stuff you probably do anyway. If there is ever a question (99.995% of the time there would not be) you simply hand over the folder.
Now, I would say that making large deposits - especially cash - into a bank account before you are discharged and closed can (might) arouse suspicions that you hid money from the Trustee, so I would advise that monetary gifts from Mom and Dad come in the form of a personal check that gets deposited before being spent. Easier to explain than a bunch of cash, if you ever have to.Comment
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Thanks for the all the advice, I appreciate it. Wedding preparations take time and money, few things cannot wait and have to be done now. I am willing to take a risk and keep documentation. Nothing to hide, but it is safer to not arise suspicion. Part of my plan to declare bankruptcy was to start our new life together on a clean slate.Comment
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It most likely will never come up. Focus on your wedding and try not to worry about the BK unless and until an actual issue arises.Originally posted by paulsk View PostLadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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