Vacation prior to filing?

To all,

attorney actually stated if we have extra cash from income tax refund we maay be able to use it for a mini vacation, i dunno say visiting the nations capital, road trip, hotel, gas food etc? Im not looking into anything lavish, but I mean a road trip to DC and possibly boston before I file in june would'nt hurt. Im wont also be staying in fancy hotels or anything, holiday in and such with most of the money going to sightseeing and food,gas and clothes for the family. Anyone take a vacation prior to filing? thanks all.

Ray

If you were smart, you would put that money away and hold onto it to help get you through your Chapter 13...things are going to come up during your plan years that will cost money and you will have no credit cards to utilize to pay...i.e., new car tires, major car or house repairs, hot water heater going, major appliances going, etc., etc. Vacations and other things can come at a later time when things are better for you but I certainly stay on the safe side of things and hoard that money cause you are going to need it. If you decide to take your vacation, you will see what I a talking about when you start your plan.

If you were smart, you would put that money away and hold onto it to help get you through your Chapter 13...things are going to come up during your plan years that will cost money and you will have no credit cards to utilize to pay...i.e., new car tires, major car or house repairs, hot water heater going, major appliances going, etc., etc. Vacations and other things can come at a later time when things are better for you but I certainly stay on the safe side of things and hoard that money cause you are going to need it. If you decide to take your vacation, you will see what I a talking about when you start your plan.

I was under the impression that I most probably wont be able to exempt my income tax return and asked my attorney about any extra cash on hand after getting all my priorities bought (clothes for kids, toiletries, food, repairs to house/car) prior to bankruptcy would be exemptible or not. I yet have to give him all my paperwork and such so I do not know how much cash I can truly exempt prior to filing. I always thought we were supposed to aim for less than $200 in our bank account on the day of filing unless we can claim and exemption. I mean with all my planned repairs, food, clothes and mortgage/utility bills paid up to date on the month we will file (JUNE) I guesstimate about $700 cash on hand, can I use it to pay off a medical bill that I owe and such? or would that be considered preferential payment?

Ray

Do not use it to pay off anything prior to filing. I would ask your attorney if there is any way you can hold onto that money instead of using it for a vacation that you could have it available during your Chapter 13 due to what I explained above. Believe me, if you read all the postings in here about how it can be a struggle to get through a Chapter 13 with all sorts of things that can occur (indicated in my posting above), it would be to your best benefit to have that $700 held off if at all possible for you. This is just my opinion as it is your money to do with as you want in this matter but after going through a Chapter 13 myself, it's hard to tell someone what to do or what it's like until they go through it.

advice well take, trust me on this, I can only imagine the road ahead, 5 years my god. Again, when I get all my numbers straightened out soon if I can exempt that and more I would gladly hold onto it for a rainy day, my thought was if it were just to be taken by the trustee anyway, screw it. Thank you for your input.

Ray