Saving receipts before filing...

[JEM]

When is this necessary? Helpful? And for what kinds of things?

EVERYTHING? Or just certain things? And for how long?

[Llelxon]

We didn't really save them prior to filing....wish we would have now that we have UST involved. If you are over the median or have high expenses on schedule J, then my opinion based on recent experience would be to save everything.

[StartingOver08]

We didn't really save them prior to filing....wish we would have now that we have UST involved. If you are over the median or have high expenses on schedule J, then my opinion based on recent experience would be to save everything.

+1 If you are an over median filer, you will need to have your documentation ready anyway - expect the UST to be involved. It does not mean that all of your documentation will be necessary, but if you don't have it, that is when the problems arise.

[JEM]

+1 If you are an over median filer, you will need to have your documentation ready anyway - expect the UST to be involved. It does not mean that all of your documentation will be necessary, but if you don't have it, that is when the problems arise.

Ok, so another question then....if we *think* we *may* end up over the $100K unsecured mark--BUT will be UNDER the median--by a few thousand, and are concerned that the UST may take interest based on that, will it be as big of a deal to save receipts?

Are we talking groceries receipts, gas receipts, haircut receipts, clothing receipts....or EVERYTHING...like say I got a coffee in the gas station, should I save the receipt for that?

What about things you don't have receipts for, like children's field trips through school, or school lunch money...those things I usually have to give cash for. (It doesn't add up to a *ton*--but still an expense)

Am I over analyzing everything and worrying too much?

[StartingOver08]

The fact that you have large unsecured debt, $100k seems to be the unofficial definition of large, may interest the UST.

If you don't have receipts for everything, start keeping them now. I believe you can not have too much documentation. You don't have to supply everything - just what is requested. But you won't know what is requested until the UST shows interest! Catch 22. If you don't get a receipt for some small independent things, its not likely to be an issue.

[JEM]

The fact that you have large unsecured debt, $100k seems to be the unofficial definition of large, may interest the UST.

If you don't have receipts for everything, start keeping them now. I believe you can not have too much documentation. You don't have to supply everything - just what is requested. But you won't know what is requested until the UST shows interest! Catch 22. If you don't get a receipt for some small independent things, its not likely to be an issue.

I've already started a big envelope of receipts, but I have thrown out some that I thought wouldn't be important. Like small trips to the grocery store, or "little things" here and there. I have saved receipts for bigger things like auto repairs, maintenance, filling prescriptions, trips to the doctor etc..

I will just throw *everything* in there from now on.....

If we filed in late March, would that be "enough" documentation, IF requested?

[StartingOver08]

Should be because by March you will have Dec thru Feb which should show actual expenses IF something is questioned by the UST. Hopefully nothing will be questioned..!

[momisery]

I am a real pack rat so I save about everything anyhow for at least a year. But I kept handy expenses that I felt were not self explanatory. Like a check I wrote to pay my car insurance, did not show car insurance on my statement. And of course I keep all of the gas tickets and etc that hubby uses up trying to sell insurance in this messed up economy.

[tigergem]

I am sure that if I had to, I could come up with every single receipt for everything. But my trustee sent a letter and said to bring receipts for "extraordinary" expenses. I am guessing that means the transmission in the car, the refrigerator (the old one blew up, this wasn't a "wanna"), "maybe" the dogs' annual vet visit... I dunno. I guess I am just going to take receipts for everything except groceries and insurance payments. I mean everything else kinda falls under the category of "extraordinary" anyway. Oh yeah! The printing and postage fees I had to pay to serve my matrix! Can you believe that was over $150?

[pa308]

Ok, so another question then....if we *think* we *may* end up over the $100K unsecured mark--BUT will be UNDER the median--by a few thousand, and are concerned that the UST may take interest based on that, will it be as big of a deal to save receipts?

Are we talking groceries receipts, gas receipts, haircut receipts, clothing receipts....or EVERYTHING...like say I got a coffee in the gas station, should I save the receipt for that?

What about things you don't have receipts for, like children's field trips through school, or school lunch money...those things I usually have to give cash for. (It doesn't add up to a *ton*--but still an expense)

Am I over analyzing everything and worrying too much?

I dont think you need to save a receipt for a cup of coffe, but I would start keeping all receipts. If you start to pay for things with a debit card, it makes things easier, but some things you'll still want to pay with cash

What we did was have an envelope for every month and stick them in there. Label Dec, Jan etc.

Trustee never did ask for them, and whats funny is that we've been dischargd a while now and out of habit still have the monthly receipt envelope thing going on

[JEM]

I dont think you need to save a receipt for a cup of coffe, but I would start keeping all receipts. If you start to pay for things with a debit card, it makes things easier, but some things you'll still want to pay with cash

What we did was have an envelope for every month and stick them in there. Label Dec, Jan etc.

Trustee never did ask for them, and whats funny is that we've been dischargd a while now and out of habit still have the monthly receipt envelope thing going on

I hadn't thought about sorting them by month. I was sorting by receipt category. For instance, gasoline, auto repair, medical/dental/prescription, clothing, food etc.....

If they can see from bank statements where you are using your money--it is AS important to have a receipt for those items? Most of our stuff is done by debit, but some things i have written checks for--which would show only amount and check # on bank statements.

[Anon2k9]

I dont think you need to save a receipt for a cup of coffe, but I would start keeping all receipts. If you start to pay for things with a debit card, it makes things easier, but some things you'll still want to pay with cash

What we did was have an envelope for every month and stick them in there. Label Dec, Jan etc.

Trustee never did ask for them, and whats funny is that we've been dischargd a while now and out of habit still have the monthly receipt envelope thing going on

Huh. See when I did a phone consult with CCCS recently (Not in a DMP, just wanted to talk and see what we're looking at) they said to not use our debit card for anything but fuel, food, and utilities. If we were going to eat out or go to the movie, or even rent a DVD, use cash so that we didn't have a lot of frivolous expenses on our bank books.

[JEM]

Huh. See when I did a phone consult with CCCS recently (Not in a DMP, just wanted to talk and see what we're looking at) they said to not use our debit card for anything but fuel, food, and utilities. If we were going to eat out or go to the movie, or even rent a DVD, use cash so that we didn't have a lot of frivolous expenses on our bank books.

I would *think* that it would look more "strange" pulling out cash all the time to do those other things.

????

[Anon2k9]

I would *think* that it would look more "strange" pulling out cash all the time to do those other things.

????

I would think so too. The court (assuming a BK) is going to know how much you make, if you only show enough going into your accounts to pay your bills and buy groceries then, I would think, would ask where the other amount is at. To me it would seem smarter to cut the frivolous spending till your "free and clear" or pay everything in cash.

[frogger]

I've got a receipt for everything. And when I say everything, I do mean EVERYTHING!

I posted this some time back on another thread, but let me do it again as a little tip.....

I normally keep a couple of hundred dollars in cash. Real cash money that is used to pay for little things. That way, I don't have 10,000 debit card transactions each month that I have to balance.

Therefore, for a lot of the small things, I pay cash. Whether it's a drink from the store, a hamburger, a little from Wally-World, or whatever, I pay it in cash. Pretty much my rule is anything under $10.00 gets paid cash. All of those receipts get saved.

When my $200.00 starts running low, I write a check to myself for the total amount of the receipts, and cash that check to replenish my cash money. The check gets listed in my register as made out to "cash", the receipts go into an envelope, and the envelope is marked with the date and check number that paid for them.

Once you start doing it, it's easy to keep up with your cash that way. You'll be surprised how much you can spend that you don't think about when using cash. This not only keeps good receipts, it makes you examine all of those small purchases.