Checking Account Questions

[Smokinjbc]

Hello,

Question about checking accounts- I've seen several people mention it's a good idea to get a new checking account. Also- I had my document review meeting today and on the paper they sent home of things I still need to provide/keep track off they mention that I should have less than $100 in my checking account at the time of the signing appointment (is that before they file for me? What is the signing appointment anyways?- I just noticed it now that I'm home).

So my questions are this-

Should I switch to paper checks immediately (instead of direct deposit) and just keep a minimum balance in my checking account to pay for a few auto payments (Netflix, virus protection, etc) and pay the rest of my bills with cashiers check/money orders (the paper says I might want to do that).

I have a wage garnishment pending, so we are hoping to have things filed before 7/20- when my employer would have to start taking the $$ out.

OR- if it's the day before signing and I simply withdraw my balance below $100- is that ok? Should I get a new checking account? I have good standing at this bank and don't owe them any money (although they did close out a credit card that will be hopefully discharged about two years before I got the checking account with them).


Thanks!

[oldhack]

If the bank which holds your checking account is NOT a creditor in your BK, I see absolutely no reason to get a new one. I didn't, and never had a problem.
Even if the bank which issues your checking IS a BK'd creditor, it has to obey the bankruptcy rules just like everyone else -- bankruptcy court IS a FEDERAL court -- once your case is active. So, I guess the question would be how they react in the interim: between filing and confirmation. And I don't know about that.

[Billssuck]

Hello,

Question about checking accounts- I've seen several people mention it's a good idea to get a new checking account. Also- I had my document review meeting today and on the paper they sent home of things I still need to provide/keep track off they mention that I should have less than $100 in my checking account at the time of the signing appointment (is that before they file for me? What is the signing appointment anyways?- I just noticed it now that I'm home).

So my questions are this-

Should I switch to paper checks immediately (instead of direct deposit) and just keep a minimum balance in my checking account to pay for a few auto payments (Netflix, virus protection, etc) and pay the rest of my bills with cashiers check/money orders (the paper says I might want to do that).

I have a wage garnishment pending, so we are hoping to have things filed before 7/20- when my employer would have to start taking the $$ out.

OR- if it's the day before signing and I simply withdraw my balance below $100- is that ok? Should I get a new checking account? I have good standing at this bank and don't owe them any money (although they did close out a credit card that will be hopefully discharged about two years before I got the checking account with them).


Thanks!

I think the "signing date" you mention is the filing date.. In that case, the balance you have in your accounts will be an asset and you will have to use some of your state exemptions to cover them if it isn't as close to zero as possible.

We didn't strictly use paper checks to pay bills before filing. We could pull up a bank statement to show debit information if needed at anytime online. And...on the day of filing we withdrew $300 from our account to pay our attorney his final fee. So far no one has had a problem with that but we just filed on 5/21. If you don't owe your bank any money and they aren't claimed on your matrix as a creditor to be discharged in BK, then you should be okay with staying with that bank...that's what we did. .