In our CH 13 there is a section that reads:
Debtor's Duties:
.....Except as provided in 11 U.S.C. 364 and 1304, Debtor shall not incur aggregate new debt of $500 or more without prior approval of the Trustee or the Court, except such debt as may be necessary for emergency medical care, unless such prior approval can not be reasonably obtained....
SO--does these mean we just can't incur "debt" of more than $500 or we can't spend more than $500 on something?
For example, DS will be getting braces soon and the $$ is coming from our HSA, but the bill will be more than $500, is that ok? We will need a new septic tank and that will be far more than $500 but we will have enough saved by the summer to pay for it, so is that ok?
I'm thinking this means we cannot take out a loan or credit card, not that we can't actually spend more than $500. Please let me know if I've got this right or not-thanks!
Karen
Debtor's Duties:
.....Except as provided in 11 U.S.C. 364 and 1304, Debtor shall not incur aggregate new debt of $500 or more without prior approval of the Trustee or the Court, except such debt as may be necessary for emergency medical care, unless such prior approval can not be reasonably obtained....
SO--does these mean we just can't incur "debt" of more than $500 or we can't spend more than $500 on something?
For example, DS will be getting braces soon and the $$ is coming from our HSA, but the bill will be more than $500, is that ok? We will need a new septic tank and that will be far more than $500 but we will have enough saved by the summer to pay for it, so is that ok?
I'm thinking this means we cannot take out a loan or credit card, not that we can't actually spend more than $500. Please let me know if I've got this right or not-thanks!
Karen
Comment