Retired early --- will they make us...........

[Introuble2008]

Hi -- I've been reading and haven't seen this brought up before.

DH and I retired early -- we'll be 58 and 61 this year. Because of a son getting into financial trouble and needing help, then unable to pay back, we're in trouble. Are filing for bankruptcy. Don't know yet if it'll be 7 or 13. We just had a thought. Will the courts try to make us go back to work???????????????? Curious minds want to know.........

[lrprn]

No, the courts and the trustees cannot force you to go back to work. Most of the time the trustees don't care how you got into debt. Some ask during the 341 but only expect a brief answer. The more general you keep the answer, the better.

[jp2861]

I keep hearing that they can't make anyone go to work. But I read somewhere in the BK rules that they could try the dismissal route if someone is choosing BK over not working. I don't know if it ever happens or if the trustees ever venture that deep into someones life. I sure hope I'm not asked why I attempted to retire so early. I guess I have a little anxiety about the trustee asking me why I don't work when I physically am able. I guess it would be a valid question if I was asked. I'm not so sure I have a valid answer, other than "I'm retired".

[CindyLou]

I think the thing that would be looked at is whether you quite working in order to file for BK. People stop working for many personal reasons....and plus if you had already stopped working before you got in trouble then I don't think it would be an issue.

That is my 2 cents

[Introuble2008]

Thanks -- that does relieve my mind. We've been full-time rving....our house sale fell thru, so we're moving back into it and letting the motorhome go. We have some cash, but have to buy some furniture.......This is SUCH a mess!

Best of luck to all of you!

[fast girl]

I know how you feel Introuble2008, we are going thru one of those big messes right now too.
I hope it turns out better for you. This is a great forum for information! I sure appreciate it.

[FreshLikeADaisy]

Introuble, you won't be the first parent (or grandparent) your trustee has met who was retired and then got stuck with the progeny's debts. There comes a point where no matter how much you make, you just can't catch up: in that instance, working is irrelevant, because even if you started today, what could you hope to earn, and would it even be enough? Chances are, no. It'll be clear when you get to your 341 (if not much earlier) and have already give the trustee the financial documentation he requires, exactly what got you into this mess and that you're not laying out of work for the sole purpose of avoiding paying your bills. Just be as honest as you can and try not to second guess it too much... which is much easier said than done, I know. Good luck!!!