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enrolling in college before chapter 7.

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enrolling in college before chapter 7.

I have some extra money and plan on filing chapter 7 soon, can I enroll in college or would the trustee complain about that?  

Message 1 of 5
4 REPLIES 4
Moderator Emeritus

Re: enrolling in college before chapter 7.

Purchasing things necessary for college is not an issue. You haven't even filed. (If this money came from loans, scholarships and/or grants, they are for your educational needs and buying supplies is perfectly fine.) 

 

I don't think anything that you're doing is questionable. They are all 'reasonable" expenses for your health, safety, or welfare. Education is arguably part of your welfare (to gain employment, improve yourself, learn more, earn more).

 

Now if you paid your tuition, say thousands of dollars, in cash. That could be questionable.  Smiley Happy 

Message 2 of 5
Member

Re: enrolling in college before chapter 7.

I am getting 3 months severance pay and I currently make about 75k a year, I would like to use a portion and enroll in WGU which is about $3500 a semester.  I don't think i'd have any issues I could argue it will help with employement and now a days it's a competive job market.

Message 3 of 5
Moderator Emeritus

Re: enrolling in college before chapter 7.

Right. You could also dump that money into retirement account, life insurance, auto\home repairs, medical, LOTS of groceries, etc. 

Message 4 of 5
Member

Re: enrolling in college before chapter 7.

I have a 10k cash excemption in my state, I will withdraw the majority and use the rest for college.

Message 5 of 5
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