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ch. 7 filing

Established Member

ch. 7 filing

My husband and I officially filed for ch.7 today. We passed the means test, but barely. We had been given a 1 time gift of money from my mother and a 1 time gift from my father in the last 6 months. My attourney did not include that is income as he said it needed to be recurring to count as income, not a one time gift. The amount they gave us, 2000 and 2500 was enough to put us over the means test. I've read various things about gifting money, I've seen some people stating that any gift of money needs to be reported as income and others that have said a one time gift does not need to be added to income. Has anyone experienced this and what was there outcome? I'm wondering if we should just amend the filing and list them as creditors, would rather avoid that if possible though. Thank you!

Message 1 of 4
3 REPLIES
Valued Contributor

Re: ch. 7 filing


startingover410 wrote:

My husband and I officially filed for ch.7 today. We passed the means test, but barely. We had been given a 1 time gift of money from my mother and a 1 time gift from my father in the last 6 months. My attourney did not include that is income as he said it needed to be recurring to count as income, not a one time gift. The amount they gave us, 2000 and 2500 was enough to put us over the means test. I've read various things about gifting money, I've seen some people stating that any gift of money needs to be reported as income and others that have said a one time gift does not need to be added to income. Has anyone experienced this and what was there outcome? I'm wondering if we should just amend the filing and list them as creditors, would rather avoid that if possible though. Thank you!


Any debt to that close of family members would be automatically considered a gift by the bankruptcy court.





TU fico08=814 11/10/18
EX fico08=796 10/31/18
EQ fico08=813 10/04/18
EX fico09=803 10/03/18
EQ fico bankcard08=831 10/23/18
Garden since 07/02/18
Message 2 of 4
Established Member

Re: ch. 7 filing

Meaning they will make is include it in our income? Or since it was a one time only gift it can stay excluded. If the court makes us add it to our income we wont pass the means test. Thank you for your help!
Message 3 of 4
Valued Contributor

Re: ch. 7 filing


startingover410 wrote:
Meaning they will make is include it in our income? Or since it was a one time only gift it can stay excluded. If the court makes us add it to our income we wont pass the means test. Thank you for your help!

Listen to your lawyer, answer any questions at meeting with creditors...who will probably not even be there...honestly. You will be fine. Do not hide anything.





TU fico08=814 11/10/18
EX fico08=796 10/31/18
EQ fico08=813 10/04/18
EX fico09=803 10/03/18
EQ fico bankcard08=831 10/23/18
Garden since 07/02/18
Message 4 of 4