HELP!!!! Bank Account question

[NoName]

My wife and I filed on 6/29. The average balance in my checking account is usually around $400. However, I got paid on 6/29 and the balance was much higher. I did not know that they went off your day of filing balance.

What is likely to happen? Any ideas?

I am scared to death, because most of that money is already spent on bills.

Thanks.

[HHM]

Do you have any sort of cash or wildcard exemptions...i.e. what state do you live in?

How much money are we talking about?

If the direct deposit hit after you file BK, for example, the direct deposit hit at 10:00am, but you filed BK at 9:00am, you might be able to argue that the deposit is not part of the BK estate.

Otherwise, you are going to have some problems if the amount is significant. If the trustee wants it, and you can't exempt it or otherwise argue that the money is not part of the BK estate, you will probably have to make an arrangement with the trustee to make monthly payments.