Hi All. For the last 8 months I have been planning this bankrupcy my attorney has always told me that a 7 would be no problem. I finally sent in the paperwork last week and met with him this Monday and signed all of the paperwork and he said he would file the chapter 7 on Tuesday (the one that just passed). Well, Tuesday passed, then Wednesday and NO FILING.
Finally he calls me today and says that he has looked over my bank statements again thinks we should do a chapter 13. Here is the story, after 5 years in business I finally decided to give up...Too Much Debt. The problem he sees is that the business just STOPPED making money all of a sudden and it is going to be a serious red flag to the trustee. What is suggested is that since I show no income that I should have a family member gift me a certain amount of money every month, just over the amount of my expenses, and pay the remainder in the 13. He knows that I am cabable of earning the money and paying the $150 a month. The amount that will be gifted will be lower than the median but will leave about $150 to pay into the plan.
Also, in our expenses we just listed basic needs..gas, electric, food, and nothing for a rainy day (car breaks down, etc).
Anyhow, has anybody heard of somebody GIFTING the money in a chapter 13. I am wondering if the trustee will try to force me into a 7? Any thoughts on this?
Finally he calls me today and says that he has looked over my bank statements again thinks we should do a chapter 13. Here is the story, after 5 years in business I finally decided to give up...Too Much Debt. The problem he sees is that the business just STOPPED making money all of a sudden and it is going to be a serious red flag to the trustee. What is suggested is that since I show no income that I should have a family member gift me a certain amount of money every month, just over the amount of my expenses, and pay the remainder in the 13. He knows that I am cabable of earning the money and paying the $150 a month. The amount that will be gifted will be lower than the median but will leave about $150 to pay into the plan.
Also, in our expenses we just listed basic needs..gas, electric, food, and nothing for a rainy day (car breaks down, etc).
Anyhow, has anybody heard of somebody GIFTING the money in a chapter 13. I am wondering if the trustee will try to force me into a 7? Any thoughts on this?
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