Qustion

[Mom2one]

I had another question. My grandfather gifted us with 3K in February. We were hopng to file later which we are and that will fall off my 6 month. But now I am reading that you have to provide a year of bank statements. Will they count this as income???

Christine

[AngelinaCatHub]

More than likely they will. Christine HEY didn't I talk to you yesterday too? Hi. Anyway, have you paid bills with it? Have you purchased nonexempt stuff? Food, clothes and stuff like that? It should have been cash not through the paper trail and NO I'm not intending to say fool anyone. I have this same problem and have been hit with preferential payments. BIG TIME, but they here in Jax so far, have been working with me. 'Hub and 'Cat

[Mom2one]

Yes it was used to pay bills. When we were dumb enough to think we could pay of 95K worth of credit cards ourselves!!! My Mom gifted us $800 I guess they will question that too. We plan on closing that account, I hope I still have all the statements!!! UGH! Why do they have to make it so hard, I didn't expect it to be easy but I thought bankruptcy is supposed to be relief? Just me rambling.....

Christine

[keepmine]

Just delay filing until 6 months have passed since the receipt of the gift.
Just because they ask for a years worth of bank statements does not mean they are trying to circumvent the 6 month lookback. All they're doing is looking for any unusual activity that might prompt questions about the accuracy of your petition.

[AtWitsEnd]

They will also specifically ask if you closed any bank accounts too.

[Mom2one]

LOL Wendy. They will love us as we are clsoing an account really soon, we already opened up a new one LOL

Chrissy

[AtWitsEnd]

LOL, just wanted you to know...Its fine to close an account, but they will ask.

Pssst...I see you everywhere LOL. Am I your favorite stalker?

[Mom2one]

Why of course

[Cali]

Why are you closing the account? We open up a new account but didn't close the other one we had.

LOL Wendy. They will love us as we are clsoing an account really soon, we already opened up a new one LOL

Chrissy

[Mom2one]

Because I have an overdraft line of credit there, which I owe money on. And we have a credit card with them that will be included in our bankruptcy. We don't want them to take our money

Christine

[Cali]

We have a bank account that we have 2 CC's that are being BKed. We still have the account open, we just don't have money going to it.

Because I have an overdraft line of credit there, which I owe money on. And we have a credit card with them that will be included in our bankruptcy. We don't want them to take our money

Christine

[laurannm]

As long as the gift is outside the 6-month look back period, it will NOT count as income on the means test.

From what I have read, while asking for a year's worth of statements is possible, it's not necessarily the norm. If they do, as long as you have receipts showing where the money went meaning (meaning you didn't buy anything luxury items with it), it won't be an issue