checking account question

[mmtr]

Hello!
I have been reading the posts on this site for two days, and I am so relieved to know I am not alone in the endless questions of filing BK. Yesterday I signed my petition and it will be filed on June 21st. My question is once the petition has been filed, how much money can I keep in my checking account? From my understanding what the Trustee's are going to look for is what was in the account when the petition was filed. Now that I am not paying my credit card bills I actually have some money left over instead of having negative funds. (I live in Illinois)
Thank you!

[FloridaGirl]

If it were me, I wouldn't take the chance of having a lot of money in my account at any given time. My trustee looked at my filing date balance, but she aslo overlooked my whole bank statement. Luckily, I was pretty much broke at all times... ....and she didn't say anything. Maybe you should withdraw any money in excess of 20 dollars each week. You can always use cash for groceries and gas. And even if you have to buy money orders for your bills, at least that money won't show in your checking account. I don't know if all this is necessary, but it's better to be on the safe side.

[lilkim]

i was wondering, if you withdraw your cash from your checking account, want the trustee question where the money you withdrew went? i have direct deposit, so i was wondering if i need to have it stopped for now until after this is all over? i really do not want my employer to know i am filing, it is a company policy to have direct deposit!!! i am lost as to what to do, any advice??? thanks

[mmtr]

Thank you for the info. This whole experience has me going a little nutty. I am moving in July to add to the stress. I have to have $1400.00 to move, and I am not sure how the court looks on that kind of money going in and out of a checking account.

[bull]

i was wondering, if you withdraw your cash from your checking account, want the trustee question where the money you withdrew went? i have direct deposit, so i was wondering if i need to have it stopped for now until after this is all over? i really do not want my employer to know i am filing, it is a company policy to have direct deposit!!! i am lost as to what to do, any advice??? thanks

We are about 20 days to discharge and also have direct deposit. Our lawyer told us that any money made (within reason) after we filed was ours. We handled our account just as we normally do and nobody aksed any questions.

[InDebtInMD]

I didn't do anything out of the ordinary with our checking account. Direct deposit as usual. In fact, there really was no time for anything like that as we were not planning on filing.

anyway, at our 341 no one asked to any bank statements.

The US trustee did ask where our accounts were, but didn't ask for any account #s or anything.

[marko56]

My understanding is that they are looking at the amount in your bank account on the day of filing and what you have in there the day after is not that important. My lawyer said that anything over $250 could be problematic. By the time I filed I was broke anyway so it didn't matter.

[lilkim]

thanks everyone for your advice!!!this forum has helped me so much during this stressful time!!!