Gifted Money close to filing?

[flower04]

So, if you read my other post, you'll understand my reason for asking this question.

We might be getting some "gift" money from family that we will use to pay some bills before our filling next week.

How is this looked upon with the TRUSTEE?

[DUMBAGAIN]

How would they know you got the "gift"

[flower04]

They'd see the deposit in my account and know that it didn't come from a job/wage and want to see where it came from.

[DUMBAGAIN]

humm do you have to put it in your account? I mean is there anyway around that?

[BROKENN]

CCs take money from anybody.

[DUMBAGAIN]

Broken, you are meaning have the gifter pay the bills directly instead of putting it into the OP's account correct? That's a good idea.

[AngelinaCatHub]

They would look upon it as income. Should not have filtered it through the bank. If you did, if you purchased non exempt stuff and claim "dire straits" for the food, clothing, essentials, and volunteer this up front, it will probably be forgiven. After all, at this time, we all need help. I look back at all those who Mrs. and I have helped when we had plenty and sadly I say, ok, it is our time. It is now time for us to get a break. Therefore I will not let pride stand in the way of our health and happiness.

I believe that if explained in a similar way to the lawyer, Trustee, or whomever, this is the way it is, and they will accept that. 'Hub

[AngelinaCat]

If you can, do as others have suggested and have your family pay the bill directly. Or, have them give you a MONEY ORDER for the amount.

Now, if the family is giving you 'gift' money to clean--or pay down SEVERAL bills--that can be a problem. One poster--several months ago, around the time 'Hub and I joined in April--suggested to list the family as 'creditors' and claim the 'gift' as a loan. That way, the gift is NOT considered income, otherwise it would be. Then, later on down the road, after you are out of all this mess, you wanted to repay this gift to the family, you could.

Does any of this make sense? I have had several interruptions while I've tried to compose this reply, so I'm sorry if it comes across as gobbldeygook. I cannot remember the poster who suggested this scenario.

Good luck.

[epiphany]

Sorry, I am unfamiliar with your history.

How much money are you talking about and what bills are you talking about paying down?

ep

[epiphany]

Okay, I just read your other post.

I am a little confused. Are these charges on the AMEX (minus the five percent you claim are personal), items that he will be getting reimbursed for? Was he already reimbursed for them?

Why did your lawyer say you should keep paying on the personal CC's and how much money are you going to be getting from family to help you?

Not trying to be nosy, but these are important things to know for anyone trying to give you good advice.

ep

[flower04]

The money is about $3000. The charges he was already reimbursed except the personal expenses which haven't been paid and the interest from not being paid is outrageous. We are only to pay a very small portion of the amount of the balance of our personal cards because of transactions that took place in December. We were originally going to file in May/June, but were unable because of my medical problems. Almost all of our debt has gone into collections because it's been so long since we've paid and I'm worried about a lawsuit. We are filing next week if all goes well with this question I asked. I will let you know what teh attny says.
Thanks

[AngelinaCat]

I am lost here.

1. Please let us know what DH owes on this card personally.

2. Please let us know what DH may owe on any interest that personal stuff.

3. Please let us know what DH may owe on any legitmate COMPANY DEBT is on this card that said company is trying to nail you folks for. If it is a legitimate company debt, you may NOT be liable, and you might be 'being pulled through the knotthole backwards', as my Mother used to say.

Good luck.

[flower04]

DH's personal purchases are probably about $1000. Company purchase about $3500. Company has already reimbursed. $2800 of that $3500 was paid. Balance of $700 with Dh's purhcases about 1700 total. With interest, this balance is now $3300. I'm sorry this doesn't make sense, I'm feeling so overwhelmed that I can't communicate very well. I really do appreciate all your thoughts and support.

[epiphany]

I think epiphany just had an epiphany.

What date are you filing? If you can get filed before Oct 1st, then the six month look back will only include March - August and any payment to your creditors made in Sept would not be considered a preferential payment and any Sept income would not have to be considered on your schedules.

I am hoping a guru steps in to confirm this but this is the way I understand it. Please do some research and talk to your lawyer before taking my word for it.

ep