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Grain app loan I think I made a mistake.. Worry case will be dismissed

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    Grain app loan I think I made a mistake.. Worry case will be dismissed

    I didn't realize how much this could of been an issue.. I saw the grain app which loans money based on your checking account not credit. I thought this great so I applied and was approved for 1000. I used 800 of the funds for household necesseties, clothes, groceries. I did not realize that I would possibly need approval for this from trustee. I pay my payments on time no issues. I am worried sick that if trustee sees this my case will be dismissed which will ruin our lives. Please advise.

    #2
    I suggest that you review your case documents to determine what, if any. restrictions were placed concerning obtaining credit while your case is active. In our case, we were not allowed to obtain any credit without obtaining trustee permission. I have read on this forum that some trustees allow up to $500 and others up to $1000 of credit without trustee approval. I have never heard of any trustee pulling credit reports to see if a person has obtained credit.
    Filed chapter 13 petition 7-7-2015
    Discharged 8-28-2020

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      #3
      Thank you, I cannot find any amounts. I’m trying not to panic. If I can pay my trustee it shouldn’t be an issue. I am just so upset .. I really did not realize.

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        #4
        How far are you into your plan? Are you paying back less than 100 percent. If so the trustee could want the money you were given to pay back creditors. Just keep making your trustee payments and keep making the grain payments. The trustee doesn’t run credit so you can either speak to your attorney or make sure you don’t borrow again. You don’t want to lose what you’re working towards..your financial matters in order.
        Last edited by sophieanne; 10-13-2020, 06:30 PM.
        Filed Chapter 13 - 07/20/12
        Discharged 8/2/16

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          #5
          There's no way to really know without contacting your attorney. Is the app more of a loan than credit? I don't really understand this, but I know my cellphone payment that is spread over 24 months is not viewed as credit debt because it's a payment plan.

          I have taken "payment plans" for online ordering. Right now I have one with HSN, but it's under the $500 credit I am allowed, but still I don't know if that's really what they consider "credit" since it's NOT the same as a credit card where you charge up to a certain amount. I thought I had applied for a "payment plan" when I was looking for an end table and it turned out to offer me over $1,000 so I didn't even accept the offer because it scared me off. I never did buy an end table! I wish it was easier to understand what they mean by credit during BK 13.

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            #6
            Originally posted by codingirl79 View Post
            I didn't realize how much this could of been an issue.. I saw the grain app which loans money based on your checking account not credit. I thought this great so I applied and was approved for 1000. I used 800 of the funds for household necesseties, clothes, groceries. I did not realize that I would possibly need approval for this from trustee. I pay my payments on time no issues. I am worried sick that if trustee sees this my case will be dismissed which will ruin our lives. Please advise.
            I'll just cut to the chase and ignore about any official limits on debt without trustee permission. They're not going to find out unless you tell them or you ask the trustee for something that requires bank statements. I have the Grain app as well, but I've never used it except for a small $10 charge to figure out how to use it. Grain is a revolving credit line just like a credit card.

            The much bigger issue is using credit in a 13. You really, really shouldn't incur debt at all unless it's a dire emergency. Groceries are not a dire emergency since the official budget gives you enough for food to live on. You absolutely need to cut hard on your budget. We all have. For example, I think nobody in a 13 has any business keeping cable TV with hundreds of channels over a minimal single channel streaming subscription. The budget that you gave to the trustee is the one you need to follow religiously although you can change it around as long as the bottom line numbers are the same.

            My suggestion is to paydown the Grain account in full and start cutting deep in your budget. We've all had to cut our budgets in our 13s very deeply and then have crap break down like cars, plumbing, and HVAC to completely use up any small cushions of savings we had. You don't need to close the Grain account. Just keep it at zero balance with the exception of a very small transaction once a year to keep it active on your credit report. The second job is another sign that your budget is too rich for a 13. Remember, any extra money you earn or gifted during the 13 is supposed to go to unsecured creditors to pay down your debt unless you are in a 100% plan. It often doesn't happen that way, but you can't count on it.

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