I filed bk today. I know that I should have taken out my money and transferred it before filing, but I didn't, It was done quickly to rush a deadline. Anyway..I filed today and then came home and took the money out and placed it in a different bank, because I owed money on a cc to the bank it was in. I claimed the money as exempt, so did I do anything wrong, or can I get in trouble for this? I have receipts to show that I deposited it into another bank. Aren't I allowed to use this money for regular household expenses?
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You should be OK if you exempted it. The trustee will ask for statements of all your bank accounts to show the balance on the day you filed. If your statements are like mine, it shows the daily balance, that's what their looking at. I highlighted the date and balance on my statement, thats all she looked at and handed it back.
In essence, all of your assets and cash become property of the estate the day you file. Hence any non-exempted cash could be considered available to pay creditors. The trustee wants the bank statements to verify your available liquid assets on the day you file. If you exempted and it was not a substantial amount, you'll be just fine. -
Thank you. I can spend the money on regular household bills though, if I can account for it. Am I right on this? I just don't want to do anything to get it dismissed.Comment
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As long as you exempted it, you should be OK. If your worried, just keep track of it until your 341. The only way you would be in trouble, is by fraud or you were hiding assets. Remember any money you earn after the day you file is yours and out of reach of the trustee...with a few uncommon exceptions.Comment
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