Our bank offered us a time-limited (expires just before we plan to file) deal where if we deposit $25/month into savings for ten years they give us a $1000 bonus. I'd be quite tempted, except now of course I'd wonder what on Earth this does to my paperwork -- for instance, I'd guess that the $25 doesn't count as a schedule J expense, but does the $1000 become some sort of money that I'm due that's contingent on something? Is it some sort of Schedule B item? I have no idea and I don't think the chance at the money is worth me trying to figure it out! It's funny to see how knowing we're about to file makes us see normal things completely differently.
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You raise an interesteing question about the $1,000 bonus. I'll probably file ch 13 in 2010 and this summer just before my son turned 6 I started a similiar account for him at the bank. If I put $25 in each month until he reaches 18 the bank will give him $1,000 towards college. I was prepared for the trustee to eye the current account balance (but its low under $200) so I wasn't too concerned. If the bonus payment was expected during the bk period, the trustee might have his hand out for some of it - but if it will be paid after bk closes then it should be okay. -
WHEN....do they give you the bonus...after the 10 years... or when you sign up???Comment
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