I got a letter from the IRS today.
I know, right? My heart started pounded, just as you'd imagine.
All kinds of things floated through my mind. Were we being audited?
The letter said they noticed a mistake on our taxes that changed our refund amount. It offered a toll-free number and asked that I call them.
So I did. And they were very polite.
Turns out my husband got part of a credit through the VA and had claimed it again (our accountant is awesome, but not infallible) when we filed. The result was that our refund was $250 less.
I panicked. We already received our tax refund. Did I have to send a check?
Turns out they adjusted it prior to sending the refund and all is well.
Truth is I had simply noted the amount in our account had gone up about what I had expected it to. I was rushed that day. I didn't analyze it. Ugh! How could I miss that? $250!
Thursday, April 8, 2010
It's happening again
Every once in awhile I come across a life obstacle that makes me behave differently. There is a holding pattern that happens. I realize it, curse at it a bit, forget about it for a few days, and then face it again, kicking and screaming.
The most notable time that this happened was when we were trying, and failing, to get pregnant. I didn't want to do certain things because I was going to get pregnant soon. Months later I'd be mad at myself for not being in better shape or not having flattering clothes, but surely I'd be pregnant next month, right? I'd hate to cause myself to miscarry (a very uninformed fear I had at the time) or spend money on nice clothes that wouldn't fit.
Now the bankruptcy is causing this holding pattern. Nothing feels "real" to me right now. Although nothing will change. On paper I'll be debt-free (except for student loans) and have a credit score few would envy. In my day-to-day life, however, very little is going to be different.
I'm going to make a concerted effort to use this as an opportunity to start fresh rather than be on hold.
The most notable time that this happened was when we were trying, and failing, to get pregnant. I didn't want to do certain things because I was going to get pregnant soon. Months later I'd be mad at myself for not being in better shape or not having flattering clothes, but surely I'd be pregnant next month, right? I'd hate to cause myself to miscarry (a very uninformed fear I had at the time) or spend money on nice clothes that wouldn't fit.
Now the bankruptcy is causing this holding pattern. Nothing feels "real" to me right now. Although nothing will change. On paper I'll be debt-free (except for student loans) and have a credit score few would envy. In my day-to-day life, however, very little is going to be different.
I'm going to make a concerted effort to use this as an opportunity to start fresh rather than be on hold.
One more thing to go
I simply need to finalize my list of possessions (including coming up with prices and making sure that I properly labeled them joint, mine, hubby's, or mom's) and my paperwork is done done done. I'm this close to being set for Monday. Honestly, I could have been done by now, but I wanted some separation so that I didn't miss anything.
Monday, April 5, 2010
And the calls began again...
I left the lawyer's office with advice on how to handle future collection calls:
Tell them you're going to give them my name and phone number, and that you've been advised not to talk further with them.
As soon as I got to my car I put a slip of paper with the correct spelling of the lawyer's name and phone number and slipped it into the slide-out keyboard. Then I went to Controls - Contacts - Reject List - Delete All. The block list that I had so carefully added to after each new phone number called was wiped out.
(Sidenote: All the calls have been polite even up until now, which surprised me. I had expected more aggressive techniques, but I guess since I'm still under 30 days late they'd have reason to keep my business if they can.)
Within the hour I got my first call.
Capital One
I spoke with the lady from Capital One first. She gave her schpiel. I confirmed her name and told her exactly what the lawyer told me to say. She said, "Oh, I'd be happy to take that information from you. Would you give me just a minute to pull the right screen up?" All she asked after that was whether it was a debt relief lawyer or if it was a bankruptcy lawyer, in which case my number would be pulled from the call list in her system. I told her it was bankruptcy. She said, "I've got it. Thank you so much, and good luck."
Chase
Chase called next. This time I modified my schpiel to specifically say "bankruptcy attorney". The gentleman was also very polite and happy to take my lawyer's info.
He then asked for the address. I didn't have it as I was in the car. Then he asked what chapter I was filing, which I answered. Then he asked if I had a case number yet, which I don't. Then he asked if he could know why I chose to file bankruptcy at which point I said, "I'm sorry, but my lawyer said not to get into a conversation with you." He confirmed he had the number and to have a good day.
Bank of America
Wouldn't you know, within another hour BOA called. It was another woman. She was just as friendly as the other two and confirmed they'd stop calling me and get further information from the lawyer. She asked a few of the same questions Chase did, but only what chapter and whether I had a case number yet.
It's over
And just like that all three creditors were informed that I'm filing bankruptcy. I thought this step would be hard, but honestly it was a huge weight off my shoulders.
The first big step was to stop paying my bills. The next was the time I spent dreading getting the collection calls and letters. Then admitting I was filing.
I'm still here. The earth didn't swallow me, nobody laughed or teased, and my heart didn't stop.
I CAN DO THIS.
Tell them you're going to give them my name and phone number, and that you've been advised not to talk further with them.
As soon as I got to my car I put a slip of paper with the correct spelling of the lawyer's name and phone number and slipped it into the slide-out keyboard. Then I went to Controls - Contacts - Reject List - Delete All. The block list that I had so carefully added to after each new phone number called was wiped out.
(Sidenote: All the calls have been polite even up until now, which surprised me. I had expected more aggressive techniques, but I guess since I'm still under 30 days late they'd have reason to keep my business if they can.)
Within the hour I got my first call.
Capital One
I spoke with the lady from Capital One first. She gave her schpiel. I confirmed her name and told her exactly what the lawyer told me to say. She said, "Oh, I'd be happy to take that information from you. Would you give me just a minute to pull the right screen up?" All she asked after that was whether it was a debt relief lawyer or if it was a bankruptcy lawyer, in which case my number would be pulled from the call list in her system. I told her it was bankruptcy. She said, "I've got it. Thank you so much, and good luck."
Chase
Chase called next. This time I modified my schpiel to specifically say "bankruptcy attorney". The gentleman was also very polite and happy to take my lawyer's info.
He then asked for the address. I didn't have it as I was in the car. Then he asked what chapter I was filing, which I answered. Then he asked if I had a case number yet, which I don't. Then he asked if he could know why I chose to file bankruptcy at which point I said, "I'm sorry, but my lawyer said not to get into a conversation with you." He confirmed he had the number and to have a good day.
Bank of America
Wouldn't you know, within another hour BOA called. It was another woman. She was just as friendly as the other two and confirmed they'd stop calling me and get further information from the lawyer. She asked a few of the same questions Chase did, but only what chapter and whether I had a case number yet.
It's over
And just like that all three creditors were informed that I'm filing bankruptcy. I thought this step would be hard, but honestly it was a huge weight off my shoulders.
The first big step was to stop paying my bills. The next was the time I spent dreading getting the collection calls and letters. Then admitting I was filing.
I'm still here. The earth didn't swallow me, nobody laughed or teased, and my heart didn't stop.
I CAN DO THIS.
Official Retainer
Today I met with my lawyer again and officially retained him.
Lawyer Paperwork:
I signed a two-page document that clearly outlined what my lawyer was offering and at what price, what my responsibilities are, what extra work costs if above and beyond the normal bankruptcy proceeding, that all must be paid before filing, and so forth. I saw nothing disagreeable. I paid $200 out of the $1500 fee with the remainder to be paid when I turn in the packet of Chapter 7 paperwork.
Mom Advice:
The lawyer was concerned that she still has funds in her account. Becuase I could have gone in and taken money out (not that I would, but I could have), the trustee is going to think s/he can do so as well. However, since her income is solely from Social Security, which is exempt, there shouldn't be an issue. The money she received from her mother has been spent, as has her onetime tax stimulus credit that she got a few years ago.
The Process Now:
This is how the process is going to work from this point to filing:
I was given a very large worksheet of almost 40 pages to take home. This broke down the forms that the government uses into questions that make a lot more sense are are more user friendly. A few sections were confusing. Once I got the idea of how it was laid out it was much easier.
The paperwork also gave a "double-check" list to see if the filer may have missed any accounts. This was a long list of reminder is the form of "Do you have..." questions.
One thing that I did not like about the paperwork is that the order of "Yes" and "No" check areas were reversed frequently. Sometimes the first blank was for a yes check and othertimes it was for a no check.
I filled out the worksheet based on what forms I had previously filled out and it was very fast. I'm going to go back through and complete the few missing items now. That leaves the posession list. I think I can get that done today, revise it tonight with hubby's help, and check it tomorrow.
Lawyer Paperwork:
I signed a two-page document that clearly outlined what my lawyer was offering and at what price, what my responsibilities are, what extra work costs if above and beyond the normal bankruptcy proceeding, that all must be paid before filing, and so forth. I saw nothing disagreeable. I paid $200 out of the $1500 fee with the remainder to be paid when I turn in the packet of Chapter 7 paperwork.
Mom Advice:
The lawyer was concerned that she still has funds in her account. Becuase I could have gone in and taken money out (not that I would, but I could have), the trustee is going to think s/he can do so as well. However, since her income is solely from Social Security, which is exempt, there shouldn't be an issue. The money she received from her mother has been spent, as has her onetime tax stimulus credit that she got a few years ago.
The Process Now:
This is how the process is going to work from this point to filing:
- I have to fill out the worksheet and make an appointment to go back to the office.
- I have to gather a bunch of forms including any correspondance from creditors within the last 60 days, 6 months of bank statements, and so forth.
- The lawyer and I will spend approximately an hour going through the worksheet line-by-line.
- The paralegal will take the worksheet and put it into their computer system.
- I meet with the other lawyer (the one who will be at my 341 meeting and who is also a trustee) to go over what's been put in.
- Revisions are made if necessary.
- The lawyer presses "send" and my Chapter 7 bankruptcy petition is officially filed.
I was given a very large worksheet of almost 40 pages to take home. This broke down the forms that the government uses into questions that make a lot more sense are are more user friendly. A few sections were confusing. Once I got the idea of how it was laid out it was much easier.
The paperwork also gave a "double-check" list to see if the filer may have missed any accounts. This was a long list of reminder is the form of "Do you have..." questions.
One thing that I did not like about the paperwork is that the order of "Yes" and "No" check areas were reversed frequently. Sometimes the first blank was for a yes check and othertimes it was for a no check.
I filled out the worksheet based on what forms I had previously filled out and it was very fast. I'm going to go back through and complete the few missing items now. That leaves the posession list. I think I can get that done today, revise it tonight with hubby's help, and check it tomorrow.
Reviewing Paperwork
My lawyer meeting to "officially" retain his services and get all my paperwork is at 11:15.
Little does he know I'm coming armed with a ton of paperwork already started. I hope my appointment allotment allows us to start going over it and answer questions.
I have my list of things we need to discuss, a blank check to write a retainer fee, and an attitude of patience. Hopefully I also have a babysitter!
Little does he know I'm coming armed with a ton of paperwork already started. I hope my appointment allotment allows us to start going over it and answer questions.
I have my list of things we need to discuss, a blank check to write a retainer fee, and an attitude of patience. Hopefully I also have a babysitter!
Sunday, April 4, 2010
Easter
Happy Easter (or whatever version of Spring celebration you participate in).
This weekend has been full of family and friends and it's gone by way too fast!
This weekend has been full of family and friends and it's gone by way too fast!
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