Accounting to Trustee

16 Tons

Member

Bankruptcy Newbie

Joined: Aug 2008

Posts: 36

State: New York
#1

Accounting to Trustee

08-19-2008, 10:05 AM

OK! I have stopped paying the cc. Will be seeing lawyers soon. Now that I have this extra cash, do I have to keep track of where all of it is going while I wait out the 70/90 days?Will the trustee ask for receipts etc.?
Only use for necessary living expenses? Can I buy a child birthday presents?
Tags: None
BassBoy

Senior Member

Bankruptcy Mentor

Joined: Oct 2005

Posts: 2020

State: Ohio
#2

08-19-2008, 10:11 AM

Yes, it's best to keep track of what you spend. It helps with your Schedules as well.

You can absolutely by birthday presents, just don't go crazy. Keep it simple. Filing BK does not mean you can't spend a nickle until you're discharged, but you should be conservative during that time.

Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007

A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain

All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.
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