If the new rebate goes through, what will you do with yours?

[CATCHMEIFYOUCAN]

Do we have to pay taxes on it the following year? I don't know if that has been asked or answered, I was skimming everyones responses. I'm assuming we do, I don't see the govt handing out those $1200-$1500 checks plus $300 per child to those that are eligible.

Like "NAZSTAR" I don't think I'll get to see a penny of it either.

But you all know what I would do with it! I've taken up a new hobby though besides the casinos this year - TRADING ON THE STOCK MARKET ! I guess its no different than gambling at a casino?

BEST TO ALL, CATCHMEIFYOUCAN

[robivi3]

It will only make up my tax deficit this year. I had the benefit of a couple of years of the child tax credit, that vanished this year and messed me up.

The $1000.00 deal is basically three days of overtime, so itis a little help, not much.

[kl030505]

Do we have to pay taxes on it the following year? I don't know if that has been asked or answered, I was skimming everyones responses. I'm assuming we do, I don't see the govt handing out those $1200-$1500 checks plus $300 per child to those that are eligible.

Like "NAZSTAR" I don't think I'll get to see a penny of it either.

BEST TO ALL, CATCHMEIFYOUCAN

I think you get a 1099 on that amount the following year, yes, but I really don't know for sure. Isn't that how it worked in 2001?

[magyar123]

Save it for next - 2009 winter months - year and get out of the cold - Hawaii or Bahamas here we come.
Or take a few days in July/August when it's 100 + here every day and head north to Alaska.

[Bandit]

so what do they do for the people who have BK at that time? just take their rebate away from them?

[robivi3]

depends on the Trustee, I do think it will cause some problems. I expect the Trustee benefits from any economic downturn.

[ssdsco]

We have the emergency fund covered so buy something we need made in America. Stimulate our economy, not China's.

[AMISLANDER]

It's going to the emergency fund called "A Brick in the Wall"!

My reg refund is going to pay off the little balances on my two credit cards, i.e. PAID IN FULL! They will totally raise my credit limits again, which will raise the scores I've never even checked, I'd like to buy myself something, which I haven't done in five years, like the Grateful Dead, Europe '72 CD, a new walkman to play it on, and maybe look for a used Apple laptop for my writing project!

[vleisme]

[JollyGG]

Never mind

[rrockinggramma]

I am going to inject mine into the economy and help stimulate it by purchasing an LCD HD TV. I have wanted one forever. My little 13 inch toshiba from my son's college days (1999) can go into storage. I haven't had the extra to do it and so now I am going to take the plunge. I contacted my attorney about the rebate as well and he told me that the trustee (eastern district/michigan) has indicated that the rebate is ours to keep. Woo Hoo

[schel]

so what do they do for the people who have BK at that time? just take their rebate away from them?

Good question! We will be in the same boat so I'm not counting on it.
Schel

[One Half Full]

so what do they do for the people who have BK at that time? just take their rebate away from them?

I'm not sure because I will not be paying bills or mortgage. Don't they say stop paying your bills and save up the money?

If they want it, I guess I will give it gladly. I mean, this is about getting out of (for me probably about 80,000.00 worth of debt-- house, car, credit card/loans.) If they want my 600.00 they can take it.

[PaKettle]

I'm going to buy a bed! I have been sleeping on the same mattress and box spring for the last 25 years and they are old and there are dangerous springs poking through that I keep cutting myself on....ohhhhhhhh I am soooooooo going to buy a bed! I am not buying anything expensive. Just a cheap, safe, comfortable bed, and if there is anything left over, then some new comfy bedding.

Unless of course, that I manage to buy one before then and then I am going to buy an air conditioner!

My cats almost welted in last summer's heat...they were panting and I was very scared. They are not going through another summer like that. I will have an air conditioner before summer!

Those are my only spending goals right now, and both of them will be accomplished without credit.

EP

See the form whatsthebest-mattress.com before buying. Read the reviews and the forum.
Hate to be a party pooper but most mattresses these days are crap. See the thread there about someone who took their mattress apart! and the links to photos of other mattresses that were dissected...

[PaKettle]

So does that mean if you adjust your deductions so that you neither owe nor get a refund in 2009 that you will OWE THIS REBATE BACK? IF that's the case, that's really a scam and a half!