What to do financially immediately following bk

[sophie]

I apologize if this info is somewhere on this board, but I can't find it.

We've been in bk 8 months now with ANOTHER extension by the trustee. Anyway I still don't know what the outcome will be but I was wondering if it would be possible to put another thread under After the Discharge telling exactly what you can and can't do. Maybe a "where to begin" or a "15 top questions, etc. i.e. How long before you can open up a savings plan. Can you start a Christmas fund immediately? I want to start preparing for my future just in case I'm fortunate enough to get a discharge.

Thanks for your consideration?

[lrprn]

I apologize if this info is somewhere on this board, but I can't find it. ... I want to start preparing for my future just in case I'm fortunate enough to get a discharge.

It's great that you are thinking ahead about this, Sophie!

There's a whole forum area here already devoted to how to recover financially after your bankruptcy is over called After the Discharge. There are forums for Rebuilding Credit, Mortgage after BK, Buying a car after BK, and Lifestyle adjustments to prevent future BK.

Is there some specific information about bankruptcy recovery that you are hoping to find?

[sophie]

I guess the main question I had was can you open a savings account as soon as the discharge is announced or do you have to wait a few months? And are the trustees still keeping track of you and your spending? Things more like day to day situations.

[lrprn]

I guess the main question I had was can you open a savings account as soon as the discharge is announced or do you have to wait a few months? And are the trustees still keeping track of you and your spending? Things more like day to day situations.

Yes, you can open a savings account after your trustee indicates your case is discharged. And no, the trustee does not keep track of you or your spending after you are discharged unless he/she has indicated there's something of interest that needs to be seen before your case is officially closed (a tax refund, for example).

Other members here have had the same question as yours -
http://www.bkforum.com/showthread.ph...avings+account . This member is in a Ch 13, but the principle is the same and the answers are the same too.