Money from relatives within a year prior to filing???

[theGrundle]

Hello.
I am in Chapter 7 Bankruptcy. Within the last year a received money from my brother to help save my ass and bail me out several times. The largest amount was $3k about 7 months prior to filing and $1.6K a year and 3 days prior to filing. In both cases most money went toward debt.
Correct me if I'm wrong but I dont think there is a place to list this in my Statement of Financial Affiars. From what I gather 'gifts' received are not considered income.
I KNOW the trustee will ask about this at my 341 and I overlooked these amounts and to my knowledge there was no place to list it.
Where do I disclose this or am I even required to? If I am supposed to list this, should I amend my return before my 341 or just tell the trustee if she askes that I overlooked it and plan to amend it if needed?

[AngelinaCat]

If this money is a gift that you aren't expected to pay back, then I don't think you have a problem, other than keeping the reciepts and paperwork proving this money went toward your debt and helping you out. The problem arises when you attempt to pay your relatives back a 'loan' within anywhere from six months up to two years prior to you declaring BK.

As far as telling your trustee anything, do NOT open your mouth and volunteer anything unless she specifically asks you. If she does, then you bring out your receipts, and say that you had family help, and here is where the money went. Chances are that you won't be asked.

Good luck to you!

[ramirezhenry]

I think you should not worry at all since the money is from a relative.