How to spend paycheck quickly before filing question.....

[newbeginning]

I have some concern about my paycheck and stimulus amounts prior to filing. I am certain that I will not be able to spend much of it before filing. Can I withdraw a few weeks before (a good amount [about a thousand]) filing and explain that I will be using it for future medical, household bills and saving for taxes for Jan. 09 (all true)? Will this explanation suffice when "they" ask why I had withdrawn a large amount just weeks prior to filing?

Thanks.

[keepmine]

Will this explanation suffice when "they" ask why I had withdrawn a large amount just weeks prior to filing?

Generally speaking, the answer is no. How much cash does your lawyer say can be exempt and how are the local trustees treating the stimulus check are the questions you need to answer. You may need to postpone filing until you spend down.

[AtWitsEnd]

This is interesting. I have an appointment on the 29th to sign the final paperwork, attorney is actuall filing on the 30th. The 30th is the same day a direct deposited paycheck is going in. The account will be very low on the 29th. My plan is to go to the bank on the 30th and make a large withdrawl the same day it goes in. My attorney sent me a letter stating "At this point, I would like your bank accounts spent down as low as
possible before you file on the 30th, keeping just enough in them to
cover any bills that will be due before your next paychecks." This is the only way I can work this out, as I can't wait another week to file and spend the money as this would bring us into June and would mess up all of our paperwork.

[Cali]

That is exactly what I am going to do.

This is interesting. I have an appointment on the 29th to sign the final paperwork, attorney is actuall filing on the 30th. The 30th is the same day a direct deposited paycheck is going in. The account will be very low on the 29th. My plan is to go to the bank on the 30th and make a large withdrawl the same day it goes in. My attorney sent me a letter stating "At this point, I would like your bank accounts spent down as low as
possible before you file on the 30th, keeping just enough in them to
cover any bills that will be due before your next paychecks." This is the only way I can work this out, as I can't wait another week to file and spend the money as this would bring us into June and would mess up all of our paperwork.

[cetiya]

I had no idea when my lawyer was going to file, he kept telling me he was going to do it, and then didnt, for several weeks, but the money I had in the account was put under my exemptions. I had about 400.00 dollars there.

[nomoretogive]

I went ahead this past week and opened new bank account as my old account is with a creditor. But the new bank said as a "privilege" I have $300 overdraft protection that would be included in my balance but to remember to subtract that from my actual balance. I don't know how that is going to fly.