Savings Bonds

[laurannm]

We have approx $300 in US savings bonds that we were thinking about redeeming to help with our living expenses while we wait to file in July. If I were to redeem those now, would they count as income on the means test or schedules? I know it's not a ton but we are close on the means so I don't want to anything that may put us over.

If it's not and we redeem them, how does it get treated in the BK?

Thanks!

[MomIcantFindmy]

That is the same thing that happened to me. I filed and did not count that as income. I didn't see anywhere to even list those as income if you cash them. I just did not put it down as an asset on my list of assets (Because they were already spent). I did keep good records of exactly where the money went.

I don't know but it would seem to me that $300 is not much to worry about even if you are close to the median because it is not a regularly occurring monthly amount like a paycheck.

Bottom line though is ask your attorney and see what he says if you have any doubts.

[HHM]

I don't know but it would seem to me that $300 is not much to worry about even if you are close to the median because it is not a regularly occurring monthly amount like a paycheck.

By the same token, if its only $300, why bother to liquidate anyway. Just leave the money where it is.

[laurannm]

True, but $300 would be nice right about now. With 3 young kids we need all the money we can get

I'll contact my attorney just to be on the safe side