Bankruptcy 101

[MARKETSACRIFICE]

Ok, self admitted i am not a very good "searcher" when it comes to forums. I never enter in the right words and my results suffer.

So i am sure this is a repost.

Can anyone tell me exactly what happens at the time you file in regards to your bank account?

i am a little confused. I hear the "snapshot" and that it is as of the day you file. But how does that work? Can i just put money in and money out the day after i file?

Everyone still has bills that they need to pay, utilities, child support, etc...

So if i file, with $50 in my checking account, the next day or two when my pay check is deposited, is it business as usual?

Looks like i am filing third week of January!

[momof3b1g]

Ok, self admitted i am not a very good "searcher" when it comes to forums. I never enter in the right words and my results suffer.

So i am sure this is a repost.

Can anyone tell me exactly what happens at the time you file in regards to your bank account?

i am a little confused. I hear the "snapshot" and that it is as of the day you file. But how does that work? Can i just put money in and money out the day after i file?

Everyone still has bills that they need to pay, utilities, child support, etc...

So if i file, with $50 in my checking account, the next day or two when my pay check is deposited, is it business as usual?

Looks like i am filing third week of January!

I have wondered this too.

[HHM]

Bank accounts: usually nothing happens. You are correct, when filing a chapter 7, you do not want significant cash in your bank account. Most plan the filing around their pay day's so that the check is deposited AFTER the bk is filed. As you said, that is business as usual.