Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Just filed and money left in my bank account

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Just filed and money left in my bank account

    So my case was just filed on Friday and I got my case number. Now waiting for date of 341 meeting. My question is, I have about $330 left in my bank account, after getting money orders for any remaining bills. Am I going to be able to use anymore of that money for gas, food? I get paid twice a month and next paycheck won't be until Jan, 15, will the trustee still try to take my money then to pay creditors? I'm nervous...

  • #2
    You would have, or your attorney did, exempt any remaining money that you had on hand the day that you filed. I had $20 in my pocket the day that I filed, and I spent $15 to take a taxi to within 7 miles of my house. I had to call collect to get someone to pick me up from a hotel. But... I was the happiest guy on the planet.

    When did you get the money orders? What was put on your Schedule B for cash on hand? Was any of it exempted on Schedule C?
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog


    I am not an attorney. Any advice provided is not legal advice.

    Comment


    • #3
      When you, or you bankruptcy attorney, completed your bankruptcy paperwork you made use of exemptions to protect your personal property and assets. The exemptions that you have available will vary based on what state you live in and if your state allows for you to use state-specific exemption or federal exemptions.

      Before you filed, did you review your bankruptcy petition? If so, then it should have listed what property, assets and cash you were marking as exempt. Anything outside of what you exempted could potentially be used by the trustee to pay back creditors.

      If you used an attorney for your bankruptcy, I would contact them to get a better idea of what money that was exempted. You can also review Schedule C from your bankruptcy petition and it should indicate how much money you marked as exempt.

      Comment


      • #4
        I'll add to the prior very good replies that in most "normal" Chapter 7 cases, cash and bank accounts are fully exempted and therefore the debtor (you) is free to use that money. But again, make sure that money was exempted. If it wasn't but should have been, you can amend your Schedule C (exemptions) to exempt it properly.

        Comment


        • #5
          Whether or not the money was exempted, the trustee is not going to suddenly freeze your bank account, leaving you unable to eat and pay bills. If you had a significant amount of non-exempt funds, the trustee may choose to make you an "asset case" and demand that you repay the non-exempt amount, perhaps in payments over time. By "significant", I mean an amount which is large enough to yield a meaningful payout to your creditors, and a large enough commission to the trustee in order to justify the work involved.

          For a balance of $330, even if not exempt, I can guarantee you the trustee isn't going to bother. After all, for the trustee to demand such a tiny amount of money would do nothing more than screw you over--it wouldn't result in a payout of more than a few dollars to any of your creditors.

          When I filed, I was over the exemption amount for "funds in a bank account", which was only $300, by another $300-400. I also had a laptop and a printer which were not statutorily exempt though I attempted to use the "typewriter exemption" to cover them. The trustee did not even bother to ask about this. Why not? Because even if he had forced me to turn over the non-exempt funds and computer equipment (which I desperately needed as I was going to college at the time), the recovery wouldn't even make a scratch in my $45,000+ of debts.

          Comment

          Unconfigured Ad Widget

          Collapse
          Working...
          X