Bank statement question

[pikaroth]

Yes, ANOTHER question.

Reading some threads here, it appears that in a majority of cases they will want to see at least a copy of your bank statement from the month you filed. Why is this? It's not a big deal, nothing at all to hide, but I am curious as to what, exactly, they are looking for? A certain dollar amount? Too much money? Too little? I'm a little scared because now that I have ceased paying on my CCs, when the time for my attorney to file comes around (mid-January), I will actually HAVE some money in my account compared to making all of my payments and having maybe $50 and some change.

Thanks to everyone here... again!

[free2breathe]

I'm not sure, and someone will certainly correct me if I'm wrong, but my thought was that they are just checking to see if you disclose properly on your paperwork what your bank balance was at the time of filing. It would definitely be a red flag if you said, "$50" and they then see thousands of dollars and think "Assets! Assets!"

[debee]

Yeah, I agree with free. The trustee is looking for easy money. I've read elsewhere on the forum that you should spend it - fill the tank in your car, get some new tires (if you will be keeping the car), stock the pantry, etc.

[scorpion35]

yup the trustee is going to ask for your statements for the month u filed at your 341

[Panacea]

So, they will check for the amount for the date of filing. How about the date when you go into your 341? Do they check again on that particular day too?

[tobee43]

Yes, ANOTHER question.

Reading some threads here, it appears that in a majority of cases they will want to see at least a copy of your bank statement from the month you filed. Why is this? It's not a big deal, nothing at all to hide, but I am curious as to what, exactly, they are looking for? A certain dollar amount? Too much money? Too little? I'm a little scared because now that I have ceased paying on my CCs, when the time for my attorney to file comes around (mid-January), I will actually HAVE some money in my account compared to making all of my payments and having maybe $50 and some change.

Thanks to everyone here... again!

i filed in the same district as you...and i wasn't ask but for 6 months at the time of filing. i thought i would be asked for "current" statements since it took us 2 months to get our 341.....but our atty said no...(i brought them anyway just to make certain if the trustee asked i had them and did not delay anything). but she never asked for anything else...

[AngelinaCatHub]

So, they will check for the amount for the date of filing. How about the date when you go into your 341? Do they check again on that particular day too?

No. They look back a typical six months, not ahead and usually not at all from filing. If there is some sort of fraud, they could ask anything they wish. I doubt you will have any trouble though unless you expect a windfall.

They can also get at a glance, your spending habits from statements. This gives them an idea if you blow doe on junk stuff. 'Hub

[Panacea]

A windfall...another pipe dream I have!

[tobee43]

well...we are all entitled to equal opportunity "pipe" dreamin...

[platter]

It's not unusual for me to pay two months ahead on a flat-rate water bill that we receive and even pay extra or double to the electric company. As for cellular cost, I pay it ahead and then pay early again and I have a pattern of that if they were to question me. (I've now purposely done this so it will show.) I also took out $500 or $700 cash recently because I'm not using cards so I have to have the cash for travelling searching for work (and only allowing utilities, etc to show on bank statement). With my occupation, and refering back a month or years, it's obvious all the cities and states in which there's been constant out-of-state charges on my cards so it's evident anyway. And a reason for paying ahead is so that I won't forget and a payment will be paid ahead of time.

[tobee43]

It's not unusual for me to pay two months ahead on a flat-rate water bill that we receive and even pay extra or double to the electric company. As for cellular cost, I pay it ahead and then pay early again and I have a pattern of that if they were to question me. (I've now purposely done this so it will show.) I also took out $500 or $700 cash recently because I'm not using cards so I have to have the cash for travelling searching for work (and only allowing utilities, etc to show on bank statement). With my occupation, and refering back a month or years, it's obvious all the cities and states in which there's been constant out-of-state charges on my cards so it's evident anyway. And a reason for paying ahead is so that I won't forget and a payment will be paid ahead of time.

i really think they are looking more for inconsistencies as to what bills and how much you pd the electric company.

[platter]

Right, nothing more paid ahead than what I'd ever done before, nothing inconsistent. Sometimes in the past I've paid $200 and the bill coming might've been only $130, many of my utilities over a period of time can show that I have an extra credit to the acct so I can prove that I've doen this before. Of course right now I wouldn't want to pay $400 to the electric. (BTW, my employment benefits are going into another one of their tiers, yadda, yadda, and supposedly this pay period I'd only be getting $49.00 (forty-nine dollars); therefore, when there's money available, I'm paying ahead. My rent is paid ahead through December as well. I'm backing myself up in the event that there's a glitch with employment or whatever and there's a roof over us and lights to see in the dark.

[tobee43]

Right, nothing more paid ahead than what I'd ever done before, nothing inconsistent. Sometimes in the past I've paid $200 and the bill coming might've been only $130, many of my utilities over a period of time can show that I have an extra credit to the acct so I can prove that I've doen this before. Of course right now I wouldn't want to pay $400 to the electric. (BTW, my employment benefits are going into another one of their tiers, yadda, yadda, and supposedly this pay period I'd only be getting $49.00 (forty-nine dollars); therefore, when there's money available, I'm paying ahead. My rent is paid ahead through December as well. I'm backing myself up in the event that there's a glitch with employment or whatever and there's a roof over us and lights to see in the dark.

platter i wouldn't be concerned at all. we did the EXACT same thing as you, actually i think my rent was up two months...just simply out of fear i think. i did and still do what you do with my water, sewer and garbage bill...i usually pd ahead on line. not one word was mentioned by the trustee because it was consistent throught out all of our bank statements.

[SunshineGal]

The money in your account on the date of filing becomes part of the bk estate unless you exempt it so that's why they want to see the balance on the date you file. As for what they are looking for, jmo, but from what I observed at the 341 hearing, they were looking for large withdrawals or deposits.

[tobee43]

The money in your account on the date of filing becomes part of the bk estate unless you exempt it so that's why they want to see the balance on the date you file. As for what they are looking for, jmo, but from what I observed at the 341 hearing, they were looking for large withdrawals or deposits.

i guess it may depend where you are...we were never asked to provide anything in the way of additional bank statements at the 341 hearing...the trustee assessed our situation based on the 6 months we provided 2 months prior to the actual hearing. it may have been that we just were extremely consistent and there was no need, i have no clue as to why a trustee does or does not ask.

i have heard other posters say they sat in on 341's and every single person was asked to provide current bank statements. like i said..beats me...i brought current ones with me, just in case..and that is where they stayed in the case!