Will My Checking Account Be Affected?

[jamntmo]

I am planning on filing Chapter 7 Bankruptcy within the next week. I am listing all of my debt which includes only major credit cards. I need to know if my checking account will be affected at all? I have had the checking account for about 10 years and it is in good standing & always has been so obviously I am not listing it on any forms. Will my checking account be "up for grabs" after I file bankruptcy? I am very concerned because my fiance and my Mother are on my checking account. I am the primary account holder, but they are listed on there as well. I do NOT want their credit affected in any way. Please advise, thank you!

[HHM]

You will be required to turn over bank statements to the Bankruptcy Trustee. You want as little money in your Checking acount the before you file the paperwork. Or if some of the money in the Checking account is not yours, you need to make the trustee aware of that fact at the 341 Creditors meeting.

[jamntmo]

I am currently unemployed. I live with my partner and all the money in the account is his. He has direct deposit every 2 wks. My concern is that since his name is on the account - as well as my Mother's - will either of them be affected by me filing bankruptcy? Thank you for your help.

[CAB_44]

if you have a loan with the bank where this checking account is...you want to remove your money and place it at another bank that you do not have any loans with..... this is what my attorney told us.

[FilingOnMyOwn]

if you have a loan with the bank where this checking account is...you want to remove your money and place it at another bank that you do not have any loans with..... this is what my attorney told us.

Wow, you dug that up from over a year and a half ago! lol

[CAB_44]

LOL~
That's too funny~
how in the heck did I do that????!!!!
Guess that's one thread where "a little info is a little TOO late!!!!!!!!!!!!!"
good grief......I got into it heavy (reading the posts) sometimes I don't (obviously) pay close attention to when it was posted.....~
I think I need to LOG OUT for awhile!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
LOL

[FilingOnMyOwn]

LOL~
That's too funny~
how in the heck did I do that????!!!!
Guess that's one thread where "a little info is a little TOO late!!!!!!!!!!!!!"
good grief......I got into it heavy (reading the posts) sometimes I don't (obviously) pay close attention to when it was posted.....~
I think I need to LOG OUT for awhile!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
LOL

Haha nice one... Had you been on here all day?

[CAB_44]

pretty much......gotta get a life I think!!!!!!!
It is SO hot here~ you can't even go outside
Can't spend any money...hahahaha that's for sure!
I've just been reading up as it is close to filing time for us....just trying to read up on all things so that I don't have too many surprizes, you know!
hum-de-dum........

[FilingOnMyOwn]

Well thats great. This is where I learned how to file myself, and much much more.

So where is it you live that is so hot?

[CAB_44]

oklahoma......108 today~ and NO rain.....
it rains all around us, but not ON us......today there have been several storms, but not here......
oh well...chances of rain are better tomorrow

[saucey]

what if you have a overdraft line of credit with the bank you have your checking account in?do i have to include this in the bk?if not will my account be ok?

[anonymuse]

what if you have a overdraft line of credit with the bank you have your checking account in?do i have to include this in the bk?if not will my account be ok?

I believe you have to include it. Not sure what will happen to it--may depend on whether or not you have had to use it and are in good standing. Good question, would like to know the definitive answer on that one.

[lrprn]

what if you have a overdraft line of credit with the bank you have your checking account in?do i have to include this in the bk?if not will my account be ok?

I believe you have to include it. Not sure what will happen to it--may depend on whether or not you have had to use it and are in good standing. Good question, would like to know the definitive answer on that one.

We had an overdraft line of credit on our checking account that we owed $3K on when we filed. Our bk lawyer said it did need to be included, and it's listed on our forms as a non-secured debt.

Because of the potential that our bank might take future deposits from that checking account to pay off the overdraft when we stopped making payments on it but before we filed, we decided to leave $10 in that account and open a new checking account at another local bank. Better safe than sorry.

[saucey]

we were hoping to keep the checking account and just keep making the overdraft payments.its only 500 dollars.i wonder if we didnt include them if they can somehow find out about the bk and close the account.

[lrprn]

we were hoping to keep the checking account and just keep making the overdraft payments.its only 500 dollars.i wonder if we didnt include them if they can somehow find out about the bk and close the account.

Honestly I don't think a trustee would agree to you paying a non-secured creditor yourself after filing bk. And if the trustee finds out you've been making payments to a non-secured creditor that's not listed in your bk, then that's bk fraud - you are required to list ALL your debts when you file bk. Your trustee accusing you of bankruptcy fraud is a FAR worse problem than having your checking account closed.

Now if there's some way to pay the $500 back to your bank before you file, then since the total is under the "no more than $600 in the last 90 days before filing" limit, that's ok - you won't have to list it as a debt, and you can keep your checking account.

I don't want to come across as judgmental...I'm just wondering why you want to pay this overdraft line back when it can be wiped it out along with the rest of your debt?