$$$ in bank account.

[rjl0206]

To all,

wanna ask a clarification about how much money you should have the day you file. I know it varies but am I supposed to spend all my money one needs and such or can I take out the extra amount I have and put it back in the account 1-2 days after filing? Its not alot, but I have this feeling that I should go on a spending spree just to make my bank account as close to $0 as possible. thanks


Ray

[Tbornetun]

It really depends upon your allowable exemptions. If you have enough exemptions to cover the bank balance then it really doesn't matter what money is in there as long as it is protected.
I WOULD NOT take money out cash prior to filing only to replace it after. The trustees can see exactly what you are doing from looking at your bank statement.

[Trixie007]

It really depends on whether or not you can exempt some cash. If not, spend on necessities that you can stock up on, pay all bills with money orders so the money is immediately out of your account. Taking cash out and then putting it back in doesn't help, because you have to declare cash on hand too.

[rjl0206]

I pay my bills electronically so they can see what Im paying, otherwise I am going to costco and have a field day with soaps and detergents and getting my wifes car fixed. I mean, as long as they dont see I spent the money on a brand new plasma or what have you there should'nt be a problem correct? also how can I look up the limit as to how much I can spend to stock up on clothes for my family prior to filing? especially my kids both of whom are growing like weeds, I am planning to hit up the outlet stores in woodbury to buy summer and spring/winter clothings for them. thanks all.

Ray