Taking cash out of bank account before filing.

[SinkingFast]

At our meeting with our attny, we literally had to empty our pockets, wallets, etc, onto the table and count. That's what was listed as our "cash on hand" for filing purposes.

Thankfully, we don't carry much money at any time. We were caught totally unawares that that was gonna happen.

You could probably fib and get away with it. Trustees hardly ever order a check of filer's homes.

It would be my luck, to be the one Filer in a decade the Trustee decided to check on. Just like being asked, in the attny's office, to dump our monies onto the conference table. Not something at all I would have expected.

[monkatom]

what happens if during Bk you deposit a check and turn around and write a check to someone for the same amount. reason is I am in charge of a holiday party at work and an organization on base writes me checks for 1-2K i deposit them then write a check to hotel, etc. will this cause problems??
Thanks

[HeatherB]

My attorney asked me how much money I had on me. I had about 60 dollars. Then he asked me how much was in the bank. I had about 800 dollars. But, I told him that it had to go out to pay bills in the next week. (But honestly, most money that goes in my bank accounts were soon sent off... I never saved money up)

[chpxiii]

what happens if during Bk you deposit a check and turn around and write a check to someone for the same amount. reason is I am in charge of a holiday party at work and an organization on base writes me checks for 1-2K i deposit them then write a check to hotel, etc. will this cause problems??
Thanks

I would think that keeping receipts and meticulous records of that money and you can show what it's for should be no problem. Just tell the trustee what it's for and thatit's not really your money.

[EveryDayAdam]

I would think that keeping receipts and meticulous records of that money and you can show what it's for should be no problem. Just tell the trustee what it's for and thatit's not really your money.

Exactly. Since the money isn't yours, it's not technically a part of the BK estate. You were holding that money in trust for your company for the holiday party.

As long as you have the copies of your cancelled checks that you wrote out, you have documentation as to what that money was used for. Since the money wasn't yours, and belonged to your company, there is nothing for the trustee to object over. Just make sure you have documentation!

[nc73]

At our meeting with our attny, we literally had to empty our pockets, wallets, etc, onto the table and count. That's what was listed as our "cash on hand" for filing purposes.

Thankfully, we don't carry much money at any time. We were caught totally unawares that that was gonna happen.

You could probably fib and get away with it. Trustees hardly ever order a check of filer's homes.

It would be my luck, to be the one Filer in a decade the Trustee decided to check on. Just like being asked, in the attny's office, to dump our monies onto the conference table. Not something at all I would have expected.

That's silly. Who carries large sums of money with them? If I had 10k to hide it would not be in my pocket.

[lrprn]

what happens if during Bk you deposit a check and turn around and write a check to someone for the same amount. reason is I am in charge of a holiday party at work and an organization on base writes me checks for 1-2K i deposit them then write a check to hotel, etc. will this cause problems??
Thanks

To be safe, if you haven't filed yet, then I would either wait to file until after all the checks clear or ask someone else to be the cash holder and check writer this year.

There have been a few cases where trustees took unprotected money out of checking accounts after the filers had already mailed checks for mortgage and car payments but the checks had not yet cleared the account.

What's in your personal account on the day of filing is considred a part of your bankruptcy estate. It could take months to get that money back, even if you could prove to the court it wasn't yours. It was in your personal account and was more than your exemptions could protect. That's all that the trustee will care about.

It's just not worth taking any chance of losing that holiday money that so many people are depending on.

Of course, if you've already filed, then the trustee doesn't care what's in your account after filing day. Have fun at the holiday party!

[SinkingFast]

Run this all by your attny. Tell him/her what's going on.

You might be able to cover it by claiming it as "Property being held by you for Others".

Although, I do have to say, I agree with Lrprn. It would be safer and way easier for you if someone else could do it for you this year. Saves you from having to document and explain, and possibly open you up to problems with your BK.

That's silly. Who carries large sums of money with them? If I had 10k to hide it would not be in my pocket.

The State we live in has a very strict limit/Exemption for "Cash on Hand". An Intangibles Property Exemption of $300 total. That's money in your pocket and cash in bank accts.

That's why the attny had us dump our wallets and count the money we physically had with us.