I got a response to a previous question regarding how a cash gift would be considered. Now I am contemplating if I should accept it. My Dad gave me a check for 2,500 to help us get a place (first months rent, rental truck, utilities deposit, etc.) I have not cashed it, because I don't want it to be considered income before we file, and I certainly don't want this to mess up my bk. But I thought I read on here that you can accept it AFTER you filed or AFTER your 341. Is that true or WAY off base? I am really torn about this, because I don't want to mess up my BK, and if that check would hurt us in any way then I don't even want it. It is better to tough it out and try to save up the funds then to completely squash our BK. We will hopefully be filed by the end of the month. So hang on to it or say thanks but no thanks?
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Just wondering if you would feel as though you are in the same dilemma if the gift had been a cash payment instead of check ? -
I can honestly say I would. Ever since we have decided to claim bankruptcy, I have been paranoid about doing the slightest thing that could screw it up. My Sis-in-law wants to give us cash so we can get her a t.v with our employee discount and I don't even want to do that. I know that may sound STUPID, but I don't want to do anything that would cause a red flag. I have this paranoia that every move we make is seen.Originally posted by OHBOY View PostComment
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Well I guess I'm really screwed. My mom passed away a month ago and I rec'd a bunch of money from friends and relatives for the funeral and then I got the life insurance check. I have a brother and I gave him a check for a few thousand as we are both listed on her will. what a mess. I just wish I could drive off like Thema and Louise.Comment
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I'm going Ch. 13 and my attorney has advised me to get a new car before filing. My dad wanted to help with a down payment but I wasn't sure that would be allowed. The attorney said accepting one-time gifts (at least in a 13) isn't a problem. It's the making of gifts that's a concern, or if it's a recurring gift as that might be seen as income.Comment
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(deleted when i realized this was an old thread. apologies.)12/2009 Stopped paying CCs; 3/10 1st suit;
8/2010 finally served; No Asset 7 filed. 11 mos since last bal xfer
9/22/10 60 day club; 9/24/10 report of no distr; 11/23/10 DISCHARGED
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not that oldComment
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I was wondering how everything is going with you. How did your situation work out for you? Were you able to exempt it with your attorney? I hope everything is working out for you and going smoothly.Originally posted by PatientSteph View PostComment
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I was able to exempt most, the remaining money went toward an unexpected and costly car repair. This has got to be the most stressful thing to go through. i went to get a check up and my bp was through the roof 172/96, I know it's the stress. Things are moving along. Thanks for asking. We signed the paperwork last night, so we are on our way to the 341. They said it would be about 90 days until the meeting but we would have to start paying the trustee in August. I wasn't expecting that- nor was I expecting how much. Ouch!Comment
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Yeah, I agree about getting first and worrying later...but then again, I'd like to know what I'm getting myself into before I commit myself. This is much more a gamble for me than anything on the PC side.
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