Bankruptcy and Christmas Shopping

[blb2397]

Ok,
Thanks to this forum I went ahead and retained a lawyer to file BK - probably CH 7 no asset case about 50K unsecured debt and less than median income.
I can probably file early next year once I save for the Lawyer fees. In the meantime I want to use a check card and by some Christmas items for kids in the families - I am filing with my wife and we figure 20 gifts about 400 total.
Is this a good idea as it will show up on statements. I just want the convenience and better prices of online shopping. The other catch is our Checking account / check card is BOA and we have CC's with them that we defaulted on. We never keep more than 150 dollars in the account and we would just get a few items at a time.
Is it ok to do this way - Any risks? Or should I just go with a Prepaid kind of card? Another bank account? If so which? Is it a good idea to open a new checking account? Don't know too much about how they work just yet. I feel like I am doing something wrong in buying Christmas gifts

[StartingOver08]

1) If you are filing BK, move your checking account away from BOA.
2) If you are filing BK and still plan to buy Christmas gifts - please use a pre-paid card or cash. Cash is the best thing because you will see how much you are actually spending. But if you decide to buy online, pre-paid debit type cards are the way to go. Remember, you don't need to make Christmas a big production with lots of gifts in order to have a Merry Christmas. There are lots of 'freebie' type things or very inexpensive things you can do with family and friends that are memorable. Getting yourself back into spending for the holidays is no way to go into a BK....JMO.

[andy158]

Christmas should be the least of your worries. The cc's are what got you here in the first place. Bk should be a red flag to you to change your lifestyle and spending habits pronto! I would be more concerned on making my living expense bills first and foremost. This will be my first xmas without credit cards an I love it! No more after holiday cringing when the mailman comes! It is not worth amassing debt that you don't need for one day and have to pay off each month for a whole year or longer! That is exactly what the banks want you to do. Stay out of the credit trap my friend and start making a new life that will be debt free!

[AngelinaCatHub]

Depending on the ages of your children, if you go to flea markets, Goodwill, and stores of such and yard sales, you can buy used toys. Christmas is for the children mostly. While it is a fun time, don't forget who gave us the best gift during Christmas. He did this at Easter.

Mrs. and I for the last two years, made envelopes of what we gave to each other during the year. Mostly things we needed but we listed them each and thanked each other. We also listed some good things we had happen and listed them, each in a different envelope. We at times print out a fancy coupon for "One back rub", or one hug for no reason, or prepared bubble bath with candles, etc. We celebrate on the eve with a bit of eggnog (laced well with spiced rum) and television. We tell our adult kids no presents shared either way and insist on that.

If you have bigger kids, tell them the facts of life, what one gift would they really like (but keep it reasonable not like a new car), and if it falls within a pre stated amount, make it so, if you can afford it.

Make presents sometimes if you are handy.

'Hub

[blb2397]

Thanks you goes are right. But I still would like to know what affect if any would spending lmoney on a checking account visa check card to cover christmas (even if its 100 dollars total) would this be an issue with my bk filing. NO cc's involved and no gifts to each other. My wife has made many cool gifts in the past with her photoshop skills but even these have some expense (paper, ink, etc). We weren't planning on spending more than a couple of dollars on each gift and we generally do the flea market thing as well but there are a couple of sites we have used recently with free shipping and low prices that are very comparable and can save some gas money too.
Thanks either way!

[logansdad]

:effect:

[keepmine]

Spending $400 on gifts is no deal breaker when it comes to bk. Pay for it anyway you please.

[leena]

Get out of BOA if you owe them money, but if you get a new checking account with a debit card, it is absolutely fine to use that for Christmas gifts worth $400.00. A trustee is not going to consider that unreasonable even if your December bank statement is part of the six month lookback. I would change my opinion on that if you are a above median filer seeking a chapter 7. Scrutiny of income and expenses in that case can be brutal. I would also change my opinion if that $400.00 became $1000.00, as Christmas shopping has a tendancy to do.

All of that having been said, consider cutting that $400.00 in half, not because of the BK but just because none of us need to spend big on Christmas and the world would be a better place if we all got over that one.

Oh, and of course don't even think of charging anything at all.

Enjoy your holiday!

[AngelinaCatHub]

Get out of BOA if you owe them money, but if you get a new checking account with a debit card, it is absolutely fine to use that for Christmas gifts worth $400.00. A trustee is not going to consider that unreasonable even if your December bank statement is part of the six month lookback. I would change my opinion on that if you are a above median filer seeking a chapter 7. Scrutiny of income and expenses in that case can be brutal. I would also change my opinion if that $400.00 became $1000.00, as Christmas shopping has a tendancy to do.

All of that having been said, consider cutting that $400.00 in half, not because of the BK but just because none of us need to spend big on Christmas and the world would be a better place if we all got over that one.

Oh, and of course don't even think of charging anything at all.

Enjoy your holiday!

How true this is. What got us here? Our generation is one of material factors that we were taught by our parents who saw prosperity after the war, (for war babies) and the next who were used to the parents keeping up with Jones, that we forget the real meaning of the Holiday, and see a need or compulsion to blow doe we don't have, then attempt to try and pay for it the rest of the year. I speak only of myself, but it may fit many. 'Hub

[frogger]

Be careful with the store gift cards. I'm sure that the ceo's of some of those companies will be joining here right after Christmas.