Mystery Deposits...

[laurannm]

We are above-median in MA, looking to discharge $100k+ so I am assuming our UST will take an interest in our case. Back in March we received some one-time sources of money that we deposited in our checking account:

$560 - my hubby is organizing a bachelor party for my sister's fiance, so he asked that everyone who is going to put in $56/each towards the party. We took this money and deposited it (not knowing at the time we would be filing BK). The party is in Aug, and we will be filing in a couple of weeks.

$244 - security deposit refund from Chrysler from our previous lease

$100 - jury duty income

$430 - there are a few small deposits that total $430 and I honestly cannot remember for the life of me where the money came from. Unfortunately my record keeping stunk back then. Update: I think I know where at least $200 came from. My hubby seems to remember taking out $100 cash from the ATM on two diff occassions and then redepositing when we realized we didn't need it (correlates with our bank statements)

Is this something we should be concerned about, when it comes to the means test (i.e. is it income)? Not sure how to handle it, and we haven't talked to our attorney yet

[AngelinaCatHub]

We are above-median in MA, looking to discharge $100k+ so I am assuming our UST will take an interest in our case. Back in March we received some one-time sources of money that we deposited in our checking account:

$560 - my hubby is organizing a bachelor party for my sister's fiance, so he asked that everyone who is going to put in $56/each towards the party. We took this money and deposited it (not knowing at the time we would be filing BK). The party is in Aug, and we will be filing in a couple of weeks.The money is not his, and he is holding it for others, keep reciepts from the party and explain like you did here.

$244 - security deposit refund from Chrysler from our previous lease Purchase storable food, it is exempt and keep those dated reciepts, 244 doesn't buy that much these days.



$100 - jury duty income Same as above, purchase exempt stuff you will need. Dump old rags and replace with better clothes.

$430 - there are a few small deposits that total $430 and I honestly cannot remember for the life of me where the money came from. Unfortunately my record keeping stunk back then That little bit my be exept with a wild card. If not, same as above.

Is this something we should be concerned about, when it comes to the means test (i.e. is it income)? Not sure how to handle it, and we haven't talked to our attorney yet None of it you described is income, but a refund that is small. It isn't really a lot of wealth. 'Hub

Hope this helps, I'm sure not an authority. 'Hub

[laurannm]

Thanks Hub

We will have plenty of exemption room, but regardless all of the money has long since been spent (except for the $560, still sitting in our account)

[Help!]

We had quite a few little deposits like these from various sources... some we could remember and some we could not. The UST wasn't interested in them and never asked about them since there were bigger fish to fry in our case. We did prepare for the second 341 hearing by going through all the bank statements we provided, documenting the sources of those deposits in case we were asked.

[laurannm]

Thanks Help

I spoke to my lawyer and he didn't see it being an issue either. He believes that even if they ask to look at our bank statements from March (which he doesn't think they will), they will only look for larger deposits (although some of these smaller deposits though were lumped together into one larger deposit, so it's a little confusing).

Of course, as usual I am probably way over-thinking things...

[Help!]

Thanks Help

I spoke to my lawyer and he didn't see it being an issue either. He believes that even if they ask to look at our bank statements from March (which he doesn't think they will), they will only look for larger deposits (although some of these smaller deposits though were lumped together into one larger deposit, so it's a little confusing).

Of course, as usual I am probably way over-thinking things...

It is good to over-think as opposed to being blindsided. The more prepared you are to answer questions the smoother things will go.