What not to do after filing and before 341

[GIn]

I'm filing non-consumer Ch 7 in a few months. I have disposable income. I have no assets currently that aren't exempt. The day after I file, is that the last I need to worry about watching what I spend my money on? I mean, can I go out and blow my paycheck on a $1,000 television or take a trip before my 341? Is there anything I could do after I filed but before the 341 or before the discharge that would violate any of the bankruptcy codes? I definitely don't want to get myself in trouble. I'm just so ready to get all of this over with and move on. And, I am very sorry to be asking this question when so many of you are seriously struggling financially. I don't know how else to ask it without seeming crass.

[frogger]

Sure, you can go blow $1000.00 on a tv, take lavish vacations, or anything else that you choose. Personally however, I would not choose to do anything to get myself noticed. What you can do and what you should do are many times not the same thing....

I do believe that I would be taking any extra money that I had coming in and start a nice little savings account for that rainy day that always seems to come.

[AngelinaCatHub]

Sure, you can go blow $1000.00 on a tv, take lavish vacations, or anything else that you choose. Personally however, I would not choose to do anything to get myself noticed. What you can do and what you should do are many times not the same thing....

I do believe that I would be taking any extra money that I had coming in and start a nice little savings account for that rainy day that always seems to come.

Above is the best advice you could get. With all that disposable income, why have you BKed? If you have that much, how did you pass the means test? If you have a lump sum of "disposable income" as, in the bank, it becomes an asset. If you just get it by paycheck, go back to question 1. I would be VERY careful and by all means stock it away for your future. High life and living beyond is what gets most of us here. BK is not a joke. 'Hub

[TBA]

I dont think ch7 non-consumer has to complete/qualify with the means test at all. We did ours anyway and still qualified, but i am pretty sure nonconsumer is a bit different.

That being said, I wouldnt go spending money on anything. I think you should listen to frogger.

[AngelinaCatHub]

I dont think ch7 non-consumer has to complete/qualify with the means test at all. We did ours anyway and still qualified, but i am pretty sure nonconsumer is a bit different.

That being said, I wouldnt go spending money on anything. I think you should listen to frogger.

I stand corrected. However, the appearance of guilt sometimes is as bad as guilt. Fraud is about the best way to become dismissed. I would keep a low profile. After all it is only 60 days, then a "new start". I/we have used ours wisely. Hope everyone does. 'Hub

[GIn]

I stand corrected. However, the appearance of guilt sometimes is as bad as guilt. Fraud is about the best way to become dismissed. I would keep a low profile. After all it is only 60 days, then a "new start". I/we have used ours wisely. Hope everyone does. 'Hub

Hi Hub. How is spending my own money from my own paycheck after filing BK fraud? If my schedules show disposable income, how is spending my own money an appearance of guilt? What is 60 days timeline are you referring to? The 341 meeting is six weeks after I file and the discharge is about four months after.

Frogger: "Personally however, I would not choose to do anything to get myself noticed." How would this get me noticed? How will the Trustee know what I do with my money after I file?

[frogger]

I stand corrected. However, the appearance of guilt sometimes is as bad as guilt. Fraud is about the best way to become dismissed. I would keep a low profile. After all it is only 60 days, then a "new start".

'Hub is pretty much correct, but I would tend to disagree with the "only 60 days" part of it.

While technically that is true, if you are discharged after 60 days and "all of a sudden get really rich really fast", you could easily raise suspicions that can bite you. Just because you have been discharged and even perhaps closed doesn't mean that it is over.

Fraud can be the gift that keeps on giving. Try it, and you just might find out how much power a trustee and bk judge has..........

[frogger]

Frogger: "Personally however, I would not choose to do anything to get myself noticed." How would this get me noticed? How will the Trustee know what I do with my money after I file?

You don't have to worry about just the trustee. All it takes is a nosy friend, neighbor, co-worker, enemy, etc. to know that you filed bk and now have money running out the a$$. One phone call can create a world of hurt.

[GIn]

[QUOTE=frogger;539981]Fraud can be the gift that keeps on giving. Try it, and you just might find out how much power a trustee and bk judge has.......... /QUOTE]

OMG. Why are all of you talking about fraud? If I show $1,000 disposable income and I want to spend $1,000 on a vacation after filing, how in the world would this be fraud? Can we get back to the original question I asked? Is my money, THAT I DISCLOSE ON MY FORMS, from my paycheck that comes in after I file, mine to spend as I want after I file and how would the Trustee even know what I spend my money on after I file?

[frogger]

OMG. Why are all of you talking about fraud? If I show $1,000 disposable income and I want to spend $1,000 on a vacation after filing, how in the world would this be fraud? Can we get back to the original question I asked? Is my money, THAT I DISCLOSE ON MY FORMS, from my paycheck that comes in after I file, mine to spend as I want after I file and how would the Trustee even know what I spend my money on after I file?

Because so many don't disclose. As long as you are 100% honest in your filings, you have nothing to worry about. Don't take it personal, a lot of people come here trying to learn how to game the system and no one here would help with that.

Honesty = No Problems.

[ValleYum]

I hope those paychecks you want to blow after you file BK keep coming in... Life can turn on a dime and has for many of us on here.

[GIn]

As long as you are 100% honest in your filings, you have nothing to worry about.

Thank you Frogger. Now that we are back on track, does the Trustee ask for current bank statements at the 341? If so, is he looking for the balance on the day that you filed? So, is a bank print out the day after you file enough for him? Or does he want the actual statement that contains the balance on the date that I filed? And to prevent the fraud discussion again, the only thing that would show up on my bank statement would be a paycheck and my purchases from those funds, but I want to be able to spend my money on Christmas gifts without worrying about the Trustee looking over my shoulder. Geesh....

[frogger]

Your chapter 7 filing is a snapshot in time of your financial position of the day you filed. You will need your documentation from that day, which can be downloaded.

Remember - a chapter 7 is a snapshot, not a motion picture.

[ValleYum]

Our Trustee wanted the statement that covered the filing date in his hands 5 days before our 341. He wouldn't take a screen print since it did not have both the name *and* account number on it. YMMV.

I sweated buying a vacuum during this time LOL but ours died and we have 2 cats and 2 dogs - but nothing was said. I also bought reasonable gifts for Christmas for my kids and grandson. Again, nothing was said.

Have you asked your attorney about these expenditures?

[Pandora]

[QUOTE=GIn;539983]

Fraud can be the gift that keeps on giving. Try it, and you just might find out how much power a trustee and bk judge has.......... /QUOTE]

OMG. Why are all of you talking about fraud? If I show $1,000 disposable income and I want to spend $1,000 on a vacation after filing, how in the world would this be fraud? Can we get back to the original question I asked? Is my money, THAT I DISCLOSE ON MY FORMS, from my paycheck that comes in after I file, mine to spend as I want after I file and how would the Trustee even know what I spend my money on after I file?

I'm going to assume your $1K disposable income will be due to you NOT paying your creditors... is this correct? Either way, it may end up if you are showing $1K DMI..then you may be a Ch. 13 case regardless if you are under median or not. Schedules come into play.

Remember a trustee can ask for bank statements at any time..after filing included.

I agree with the others - if you have $1K left every month after filing but before discharge - be smart and put at least half of it away for a "rainy day". Obviously you filing BK is due to some budgeting / debt / financial / job issue to begin with, so make sure you dont end up back here again - learn to budget wisely and put away $ for those issues that will arrise.