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Corona Virus Relief Payment HELP!

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    Corona Virus Relief Payment HELP!

    Will the BK court/trustee take the money from me if I file a Chapter 7? Do I need to delay filing until I spend the funds? I understand there maybe a check mailed second week of April and perhaps one in May. The funds would allow me to stock up on food and much needed clothes as I have lost so much weight. I have no intention of fraud, I just don’t know what to do.

    ETA: I am awaiting on a consultation with a lawyer to happen next month. I’m just a nervous wreck right now with all that is going on.

    #2
    I suspect your bankruptcy trustee would treat these funds as a tax refund, and expect you to turn over any amount which exceeds your exemptions. Therefore, unless you are facing immediate action--such as foreclosure, eviction, or repossession--the smart thing to do is wait to declare bankruptcy until the funds are received and spent. And of course, you should spend the stimulus funds, as well as any tax refund on things which can be exempted, such as food, medicine, clothing and personal goods, home repairs, car repairs, etc.

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      #3
      Thank you bcohen. That’s my plan, is to spend down the funds.

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