"Do you have any cash on hand?"

[GettingThere]

Just curious, why would the lawyer ask that? We weren't asked that when we filed our C13 to stop foreclosure, but my neighbor was. When she said no, they said they wouldn't be able to help her (she was in foreclosure too) as the courts would think she wasn't able to save money since she wasn't paying her house payments?!? That's a new one on me. Can you shed any light on that?

Thanks.

[SinkingFast]

Every attny here has asked about Cash on Hand and $$ amounts in checking and savings accts.

I've seen all 3 listed on people's Sched I of BK's filed on PACER. Every amount had an exemption code beside it. I understand about the bank accounts, so I just figured that everyone carries cash at some time. That's why the attny's broke it out.

The cash on hand amounts haven't even been big dollar amounts. $20. $40. "I gotta get gas and pay for lunch" types of dollar amounts.

But as far as being asked in a Consult how much money we have on hand right then and there, it's never happened. Attnys haven't even asked what our bank balance was. They've just said they will need to see bank statements for how ever many months.

That attny's comments are really wierd. I'd suspect, for whatever reason, the attny did not wanna take on your friend's Ch 13. Maybe some other issues he saw problems with. Or, could be, friend's Foreclosure is too far gone to stop. New Law makes it harder to get in an emergency filing to stop a Foreclosure process at the last minute.

I dunno.

[GettingThere]

Yeah, I thought that was wierd too. His sale date is a month away, so it's not like it's super last minute. Hey, he tried everything he could (read: refi) which I can totally understand as I was in the same boat. His bank accounts were depleted trying to pay medical bills and unforeseen emergencies. Therefore, he has no bank accounts. Maybe that's why, I dunno.

Thanks SinkingFast, I appreciate it.

[SinkingFast]

One attny we saw was "slick".

During the Consult, he said if we handed him all our paperwork right then and there, he'd enter the data that night, and we'd be ready to file the next day.

Other attnys have been totally different. They have all specifically said it will take them about a month to 6 weeks to get everything in order. Data entry isn't the problem. They file that electronically. The other attnys are gonna verify everything we give them before filing.

They want copies of 6 months of pay stubs, 6 months of bank statements, lease agreements, 4 years of taxes and W-2's, titles of vehicles, etc. etc. And they are gonna go thru and verify all that info before they sign and file for us. The New Law thing making attnys responsible for what they report.

Maybe that's why the attny turned your friend down. Even tho friend has about 30 days left for the foreclosure, the attny doesn't feel they have enough time to assemble all the docs and info needed, and verify it all prior to filing.

I know gathering all the info together has taken some time for us. We are still working on our household inventory list. Our attny just requested Title work on our house yesterday. That's gonna take a couple days to prepare and get back to him.

If that's the case, the attny shoulda just said so instead of making some stupid comment about not being able to save money.

[StaciMM]

Perhaps it was a bit of a psychological/trick question. Since attorneys are now liable for the info submitted to the BK court, and most people at least have SOME amount of cash on hand, someone saying $0 is possibly misleading the attorney and therefore could get the attorney into trouble? (Its a stretch, but its a line of reasoning...)

I usually make debit card transactions, but I tend to have a couple of dollars in cash/change on me also.

[SinkingFast]

That's a very good thought, Staci.

I hardly ever carry money to amount to anything. If the attny had asked me that question, I woulda dug in my pocket, pulled out the change and Ones and counted it right in front of him/her.

That's about all I ever carry. Like you, I use Debit card to pay for groceries and gasoline. Sometimes I don't even have any bills. Sometimes I unload all my change. At Christmas time, I hardly ever have change. It all goes in the Salvation Army pots.

[Jman30]

I can't even remember the last time I had actual cash on me. I use my debit card for everything and anything. If I do have cash in my wallet, my wife can sniff it out.

[anonymuse]

I have 2 emergency $20's--one in a hidden compartment in my wallet and the other in my glove compartment of my car--just in case I can't use my debit card. I just had to get some money from the ATM the other day and saw funny colors on $10 bills--when did that start? ;)

[Minnymouth]

New color of the new ten's.............. something else to waste the tax payers money on.....

[LostOne0069]

New color of the new ten's.............. something else to waste the tax payers money on.....

Actually those new colors are part of the new security features being built in to the cash to help stop counterfitters.... and are a good thing since US currency is the most commony counterfitted money in the world.... and until these re-designs had some of the WORST security features.

[Minnymouth]

Yes, I do have to agree with you on that issue......

[SinkingFast]

Son is a Cashier at work. He has some funky sort of pen he marks all bigger bills and new $20's with. Depending on the color that shows, he can tell you if the bill is real or fake.

So when you see bills floating around out in circulation that have a colored marker swipe across them, you know they've been tested to see if they are indeed real or fake.

I imagine, eventually, forgers will come up with a way to get around those markers too.