Checking Account Balance?

[concerned]

Do they look at your total money available the DAY you file, or the DAY of your 341 Meeting?

I am asking so that I know when I should withdraw money from my account. Also, are ATM withdrawals ok? Should I consider having my direct deposit cancelled?

[pink_amulet]

I asked my lawyer they said it's the DAY you file, not your 341.

[Minnymouth]

If you have a large amount in your checking account and right before you file you withdraw it all or most of it - it looks suspcious to the Trustee.....its looks like your trying to hide it.....
Whats in your account the day you file is what your bk is based on..... (unless, of course, you withdraw $5,000 the day before).....then the Trustee will yell "fraud"...

Just a thought,

Minny

[FloridaGirl]

You are right, Minny. They would yell fraud, unless you have receipts to prove you spent the money on bills. The best thing to do is get your money out of the bank right before you file because if the trustee sees you had a few thousand bucks in your account on the day you filed, she will make you pay it back to the court. Even if you wrote checks against that money, which is almost always the case with everyone, it doesn't matter. So, get your money out, and pay your bills with money orders. Take your money order stubs to your 341. Then your trustee can see that your cash was spent on bills.

[StaciMM]

A last thought-if your state has a wild card exemption, you may be able to use that to exempt your account balance.