Ok, to make a long story short.
I filed Ch. 13 Jan. 08. 341 meeting was in March. Plan confirmed Apr. 25.
Anyhow - I have a lawn mowing business that I do part-time after my full-time job. This is a VERY small business, makes me around $300/month, which I report on my income taxes.
Today the mailbox had a letter from my trustee that reads as follows -
"According to information provided in your petition, your Ch.13 case has been identified as a business case. As a business debtor you will be required to provide this office with monthly profit and loss statements, beginning with this month and monthly thereafter. The profit and loss statements are due within 30 days of the end of each month. Also, please forward a copy of your federal income taxes yearly after their completion.
During the course of your Ch.13, it is your responsibility to pay any state and federal taxes on time. Additionally, it is your responsibility to obtain and maintain comprehensive liability insurance for the operation of your business.
If you have borrowed money from any creditor and as security or collateral for the loan you have pledged accounts receivables, rent, or other cash, you may not use those assets without express written consent from the creditor or an order from the court. Failure to obtain creditor consent or an order from the court before using these assets may result in severe penalties."
OK, now I could understand if I had a business making money year round that amounted to something. BUT, I mow freaking lawns in the warm months and barely bring in $250/mo. AFTER expenses!!!!! Now, if the trustee is going to require me to have insurance ($300/yr.), then why should I even bother with this business anymore??
Anyone else have this problem??
I'm so sick of the government red tape and bureaucracy I could just rip my hair out.
My wife was laid off just before Thanksgiving, she's been jumping through hoops trying to get T.R.A. aid for schooling,(which is a government scam - NAFTA product), and unemployment just paid up today.
I filed Ch. 13 Jan. 08. 341 meeting was in March. Plan confirmed Apr. 25.
Anyhow - I have a lawn mowing business that I do part-time after my full-time job. This is a VERY small business, makes me around $300/month, which I report on my income taxes.
Today the mailbox had a letter from my trustee that reads as follows -
"According to information provided in your petition, your Ch.13 case has been identified as a business case. As a business debtor you will be required to provide this office with monthly profit and loss statements, beginning with this month and monthly thereafter. The profit and loss statements are due within 30 days of the end of each month. Also, please forward a copy of your federal income taxes yearly after their completion.
During the course of your Ch.13, it is your responsibility to pay any state and federal taxes on time. Additionally, it is your responsibility to obtain and maintain comprehensive liability insurance for the operation of your business.
If you have borrowed money from any creditor and as security or collateral for the loan you have pledged accounts receivables, rent, or other cash, you may not use those assets without express written consent from the creditor or an order from the court. Failure to obtain creditor consent or an order from the court before using these assets may result in severe penalties."
OK, now I could understand if I had a business making money year round that amounted to something. BUT, I mow freaking lawns in the warm months and barely bring in $250/mo. AFTER expenses!!!!! Now, if the trustee is going to require me to have insurance ($300/yr.), then why should I even bother with this business anymore??
Anyone else have this problem??
I'm so sick of the government red tape and bureaucracy I could just rip my hair out.
My wife was laid off just before Thanksgiving, she's been jumping through hoops trying to get T.R.A. aid for schooling,(which is a government scam - NAFTA product), and unemployment just paid up today.
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