top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Money on checking account

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Money on checking account

    On the day that we filed pro se (10/14/05) we had about $3300 on our checking account. We withdrew that money in fear that our account would be frozen and we wouldn't be able to pay our bills. Part of that money is gone but we kept about $1800 to pay for car repairs (which we took the car in today). Our 341 meeting is tomorrow and I am concerned that the trustee will want that money. Will receipts be enough to prove that the money was not stacked away somewhere?
    Thanks in advance.
    Tags: None
    #2
    Did you withdraw the money the day your petition was signed?
    Also did you list the amount on your petition as that amount in the bank???

    If you did, you may have a problem unless you find someway to exempt it.......

    Any money in checking or savings at the time of filing the Trustee can take.....

    Yes you may have some explaining to do....

    Be sure you take all receipts with you regarding what you have spent of that money.....

    Keep us posted,

    Minny
    Minny

    "It's amazing the paths that our feet sometimes follow in life".

    My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

    Comment

      #3
      Not only is money in the bank on the day of closing supposed to be reported...so is cash on hand. That's a considerable amount of money to have on "hand" when you file. Keep your receipts and your fingers crossed.
      Art
      Last edited by AAAArt; 11-18-2005, 01:40 PM.

      Comment

        #4
        trustee cant take any money thats exempt regardless of in the bank, in your hand or both.

        how little are you guys allowed to exempt in your state? some states like california you can have up to 19K minus things you own, if you dont own a home.
        Im not an attorney or a trustee. You cant trust me either though!

        [x] - Done with 341? Join the 60 Day Club! ___________[x] - Im Discharged! Whoo Hooo!
        [x] - Poll: Should I File Pro-Se ____________________[x] - New BK Law: Median Income, Means Testing and Presumptive Abuse
        [x] - Zombie Debt Collectors Dig Up Your Old Mistakes _-[x] - Bankruptcy Law Resource
        [x] - Need A Fast Answer? Available 24/7!--__________[x] - Dont Be A Hero On Your Budget - You Wont Get An Award!

        Comment

          #5
          I am in KS and the problem is that we don't have any exemptions for cash on hand. We did disclose that amount on our schedule and we thought we wouldn't have any problems because we had bills to pay and a car in need of repair. We kept receipts and we just hope the trustee doesn't ask for the money. But how can they ask for money we no longer have?

          Comment

            #6
            Originally posted by bkfiler
            trustee cant take any money thats exempt regardless of in the bank, in your hand or both.

            how little are you guys allowed to exempt in your state? some states like california you can have up to 19K minus things you own, if you dont own a home.
            Good point, but if you live in a state like I do where the exemptions are low ($2000 ind or $4000 jt), you don't really want to squander your exemptions on "bill money". Made sure that I paid all of my necessary expenses first, then filed and even with meager stuff we are still slightly over our wild card exemptions. (Everything we own except clothes). Art

            Comment

            Previous template Next

            bottom Ad Widget

            Collapse
            Working...
            X