Utilities Deposit

[TTATWORK]

I have an incredible $1000 deposit with my electrical company. I do not plan on including them in my BK, I am current and see no reason to not pay whatever amount is due at the time of my filing.

However, isn't the deposit considered an asset? Now I'm afraid of losing that big chunk of $$, then having the utility close my account and require an additional deposit. Does anyone have any experience with this?

[jlmaca]

Yes, it's an asset, but an asset with a defined legal purpose. IF the trustee decided to "include" this $1000 asset they actually would not confiscate it from the power company, the $1000 would just be added to your assets listing which I'd be surprised if it made any difference in your chapter 7 situation. I just can't see a trustee yanking the money and knowing that legally a utility, upon being notified of chap7 would then required you to fork over a sizable "deposit" within 20 days of filing. Just my opinion but I think you're ok here.

[justbroke]

Yes, you need to list that deposit on Schedule B. There are members on this forum, like AgenlinaCatHub, who had to pay the value of their deposits back to the Trustee!