After studying the differences between Ch 7 and 13 I have come the the
"brilliant" conclusion that Ch 13 stinks. It really squeezing everything
out of you it can. You basically live very, very frugal to the point of not
having any extra money for anything. What happens if you need new cooking
pans, sheets, towels or clothing for a emergency occasion?

What if you knew you had to file BK 13 in the future and to be sure you had
the necessities for the next few years you put you extra money into gift
cards at various stores where you normally make purchases? The money used
to put into the cards could be described as gifts given before the
bankruptcy.

Is this right? Is it do-able?

Another question! What if you are in Chapter 13 and your wife becomes
pregnant? Can the payment arrangements be accomodated to make purchases for
the child such as crib and necessities? Can you purchase maternity clothes?
What are the extra allowances that can be claimed to lower your montly BK
payments?

Comments please.

"Slave" <favouriteslave5@adelphia.net> wrote in message
news:N%I3b.21715$Ad4.9028051@news3.news.adelphia.n et...
After studying the differences between Ch 7 and 13 I have come the the "brilliant" conclusion that Ch 13 stinks. It really squeezing everything out of you it can. You basically live very, very frugal to the point of
not having any extra money for anything. What happens if you need new cooking pans, sheets, towels or clothing for a emergency occasion?

You totally go without eating. Just kidding. You get them.

What if you knew you had to file BK 13 in the future and to be sure you
had the necessities for the next few years you put you extra money into gift cards at various stores where you normally make purchases? The money used to put into the cards could be described as gifts given before the bankruptcy.

By definition, extra money means money you don't need for necessities. The
purpose of bankruptcy laws is not to make sure filers have a comfortable
nest egg, the purpose is to balance the interests of the creditors against
that of the debtors. If it isn't fair you don't have a lot of savings
during your Chapter 13, think of how you would feel if you were the
creditor. Especially a creditor that could not afford to take the loss.
Every creditor is not Citibank.

Is this right? Is it do-able?

No, for several reasons...but I am getting writers/typists cramp for some
reason.
Another question! What if you are in Chapter 13 and your wife becomes pregnant? Can the payment arrangements be accomodated to make purchases
for the child such as crib and necessities? Can you purchase maternity
clothes?

Of course. Again, by definition, necessities are necessary. The trustees
are looking for luxury purchases, which diapers, formula, and maternity
clothes just aint.


--



*****

Rob Stumpf, Esq.

Stumpf and Ginter, Attorneys at Law
Practicing Bankruptcy in NY and NJ

visit us at www.online-law-firm.com
or email rob@online-law-firm.com>

Disclaimer: No email or newsgroup communication is to be construed to
establish any sort of an attorney-client relationship, is not legal advice,
and is not a replacement for the advice of a competent attorney in your
jurisdiction.

A gift card technically is an asset. If it has significant value
and you don't disclose it, that's bankruptcy fraud.

Chapter 13 Plans can certainly be modified if your circumstances
change. Note that there may be a minimum that *has* to be paid,
to cover mortgage and car arrearages, priority debts, etc.

--
Brett

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* BRETT WEISS, P.C. *
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* Small Business Estates & Estate Planning *
************************************************** ***************

The Small Print: This response is for discussion purposes only.
It isn't meant to be legal advice and you shouldn't treat it as
such. If you want legal advice, speak with a local lawyer
familiar with your state's laws who can review *all* of the facts
and the law applicable to your situation.
************************************************** ***************


"Slave" <favouriteslave5@adelphia.net> wrote in message
news:N%I3b.21715$Ad4.9028051@news3.news.adelphia.n et... After studying the differences between Ch 7 and 13 I have come
the the "brilliant" conclusion that Ch 13 stinks. It really squeezing
everything out of you it can. You basically live very, very frugal to the
point of not having any extra money for anything. What happens if you need
new cooking pans, sheets, towels or clothing for a emergency occasion? What if you knew you had to file BK 13 in the future and to be
sure you had the necessities for the next few years you put you extra money
into gift cards at various stores where you normally make purchases? The
money used to put into the cards could be described as gifts given before
the bankruptcy. Is this right? Is it do-able? Another question! What if you are in Chapter 13 and your wife
becomes pregnant? Can the payment arrangements be accomodated to make
purchases for the child such as crib and necessities? Can you purchase
maternity clothes? What are the extra allowances that can be claimed to lower your
montly BK payments? Comments please.