Payroll/Direct Deposit concerns...

[roozterdvx]

After reading here about bank accounts and amounts in them...

We don't have much in our checking or our savings accounts, but my weekly paycheck was direct deposit into our checking acct.
With our luck, my paycheck would post to the account on or around the day we file so i had my employer stop my direct deposit.

One of my concerns is that our bank, Wachovia, is now affiliated with Wells Fargo, our primary mortgage lender.

We haven't closed the accounts and will still continue to use them, but figured that I can cash my check and deposit only what we need to in the checking acct to pay bills, etc.

I should have asked here first but when it came to mind, I "shot first" so to speak and now I'm asking the question.
Was this a mistake to stop the direct deposit?

BTW...
We will be getting the rest of our paperwork together this week and dropping everything off to our attny including the rest of our payment and fees.
The attorney and filling fees will just about wipe out our checking account and we will have to transfer most of what's left in our savings over to pay other expenses.

Thanx.

[roozterdvx]

almost 50 views and no responses?

[catleg]

No, I don't think so. It certainly gives you a tighter control over your balances as of the date you file. It's always a good idea to switch banks away from your creditors when you're in trouble. Have you opened a new account somewhere else?

As an aside to the others in the forum, I wonder if paying for stuff in cash raises questions with the trustees when/if they look over your bank statements (if they even look).

[Flamingo]

almost 50 views and no responses?

There are people that lurk and view on this forum and cannot respond as they have not signed up to post or those that can post and viewed may not be able to help you. It appears you have already retained your attorney so you should have asked him/her first if there would be any repercussions from you switching the direct deposit to a hard, in hand check before you did so. I don't think it is a big issue since your payroll amount does not change and you still have to list/prove where that money goes so it if is not in your checking account, it is/went elsewhere which will be documented.