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If you win money?

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    If you win money?

    I know the odds are slim to none. But what if....

    We are at the start of our 4th year of 100% pay back Chapter 13.

    Ohio has a promotion to enter everyone who is vaccinated in a drawing to win 1 million dollars.

    I know it sounds really bizarre and there's a handful of chances to win. I heard it was cheaper than trying to advertise / promote getting vaccines so they decided to do this, I think it's handled through the lottery. Though there is also a chance for underage kids to win. I think there's two drawings one for adults and one for kids. I haven't read all the details.

    If we got extremely lucky and either myself or my husband won what would happen?

    Obviously you need to contact the attorney.

    Would they want you to pay the remaining amount of the Chapter 13 or would they let you ride it out and just keep making monthly payments.

    I would prefer to pay and be done with it.

    Would there be negative consequences such as dismissal, is that the right term, basically throwing the BK out and then the creditors would be looking for all the interest and fees?

    I don't gamble except the occasional huge lottery/powerball. I have wanted to see the casino in town just to go there, but after BK I decided not to go because with my luck I would win and then complicate the BK 13. I have avoided any big raffles (say over $1,000) that are occasionally held for non-profit type groups. I use to always buy a ticket if someone was selling them for a good cause/fund raising, never expecting to win and still wouldn't expect it, but didn't want to complicate anything.

    I'm just curious if you were to win big is that bad for our situation?
    I am not an expert. I just share my experiences in the Wonderful Wacky World of Chapter 13!

    It would be considered a windfall and, unlike a windfall post-petition in a Chapter 7, it would be subjected to distribution in a Chapter 13. (Specifically, only 3 things become property of the estate in a post-petition Chapter 7. For a Chapter 7, it must occur within 180 days of filing and the three things are inheritance, bequeath, or divorce settlements.

    I wouldn't say it's a bad situation since you aren't excessively gambling and putting the Chapter 13 plan in jeopardy. It is just that the windfall would need to be reported and the Trustee would want some or all of the winnings.

    Of course, this doesn't apply to a person already in a 100% plan.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    I am not an attorney. Any advice provided is not legal advice.


      So after reading just broke’s post…you’ld be fine..just pay off the 13 and be done. I hope you or your husband win 😄
      Filed Chapter 13 - 07/20/12
      Discharged 8/2/16


        Thanks, we can always dream! I will enter us in the drawing. If we were to win and the trustee wanted the Chapter 13 paid off ASAP I would be writing a check ASAP. If we had to wait, we'd be much more comfortable over the duration.
        I am not an expert. I just share my experiences in the Wonderful Wacky World of Chapter 13!


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