What happens to my checking acct between filing and discharge? Can I still use it? Does the trustee take all the cash and close it? What happens?
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Anything you have at the time of filing has to be disclosed on your petition. If you have cash, in or out of your account, and have no way to exempt it, the trustee can ask for it.
After filing, pay your expenses as usual.Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision. -
if you bk on your bank who owns your checking account remember that they will sieze your cash and close your account lost likely.
it is legal to remove all your cash in your account as you wish and keep it on hand to protect it. still has to be listed on petition though.
if you have too much cash before filing and need to exempt some of it then you can buy insurance ahead of time, increase insurance to max rates, buy life insurance to protect it (and cash it out later) and all of this can be exempted based on state limits. talk to your attorney for details.Im not an attorney or a trustee. You cant trust me either though!
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