Question about contributions to retirement

[alice0427]

Ugh. I swear this BK is a total nightmare. But hey, it's not supposed to be fun, is it?

DH was supposed to stop making contributions to his Thrift Savings Plan retirement account a few months ago, but "he forgot." In my ongoing anxiety attack over our 341 meeting on Monday (the 14th), it occurred to me to ask him about it. He's still be contributing $250 a month to the account.

He logged on and stopped the contributions this morning, but it won't take effect until the 30th.

We filed a Chapter 7 no asset bankruptcy. We only have his income ($43,000). I used to work a very part-time job, but had to quit a few months ago. Since then, we've been BROKE. Hello, we were contributing $250 to retirement! Duh!

I know this is bad news, but how bad?

[LostinMi]

Is that $250 going to be seen as disposable income? Or do you have enough expenses to offset that income?

[alice0427]

I had to leave my job shortly before we filed. I was only making $200 to $400 per month, and we were just getting by.

When we filed, our expenses were slightly higher than our income, but nothing ridiculous.

Now that he stopped the contributions, we'll be fine. I wish he had paid attention and stopped them when he was supposed to.

We're getting ready for a 6-month deployment and between that and the BK, we've both been more than a little distracted.

I'm just so scared about this 341 meeting. I'm a nervous wreck.

[regaleagle]

I too was told to stop contributions to my retirement account which I did not stop until the night before my 341 mtg. I made the request online and brought a printout to the mtg with me in case the trustee asked for proof. The subject never came up again and my atty said just be sure the contributions have ended.

Hope this helps! btw...my case is a Ch 13...don't know if this makes a difference. Good Luck!!!!