Cash Withdraws before filing ch 13

[lg11105]

Will the trustee objects the cash withdraw before filling ch 13 ?

[AngelinaCat]

I do not know. How about filling in some details about your situation?

[forgotten]

Will the trustee objects the cash withdraw before filling ch 13 ?

Depends. $200 cash withdraw, probably not. $2,000 maybe - if you spend it on something legit, just keep the receipts. $20,000 definitely. $200,000 get ready to "visit" federal prison.

What is it you want to do? If you are trying to hide cash its not worth it.

[LadyInTheRed]

As long as you report any cash on hand on the date of filing or can explain what you did with the cash, it's not a problem. If you withdrawal cash and give to somebody as a gift or to hold for you and don't report it on your petition as an asset, then it's a problem.

[lg11105]

I am not hiding or saving but using for day to day expenditure, I don't want to use debit card at every place.
My concern is I didn't saved the receipts.

[forgotten]

I am not hiding or saving but using for day to day expenditure, I don't want to use debit card at every place.
My concern is I didn't saved the receipts.

I wouldn't worry about it unless they were very large withdraws? Have you withdrawn similar amounts over the last 6 months, which would make your withdraws just look normal? It would only look strange if you did a bunch of crash withdraws in the months leading up to bankruptcy and could not account for the money.

[LadyInTheRed]

Unless there are red flags like large withdrawals right before filing, you are unlikely to be asked for receipts. I don't think most people keep receipts for their every day spending. I wouldn't worry about it either.

[AngelinaCat]

I used to be a real stickler for keeping receipts, but not so much anymore. 'Hub likes to shred everything. We have worked out a compromise.