Conflicting information about bank account balance

[mnvikingfan]

I have paid my attorney his fee and the paperwork is done and ready to be filed. I have just enough money, about $1200, in my bank account to pay for the mortgage which is set to be automatically withdrawn on Monday. I explained to my attorney's secretary that I want to file next week after the mortgage payment is paid out of the bank account so that the balance will be close to zero. She commented that since I am in a chapter 13 that the amount in the account on the filing date doesn't matter. However, I was also given a list of things to bring to the 341 and a bank statement showing the balance on the date of filing is one of the items I need to bring with me.

Any thoughts?

[LadyInTheRed]

If your unsecured creditors will receive at least $1,200 in your Chapter 13, the secretary is correct that having that amount in your checking account won't make a difference. Just make sure the balance listed on the petition is the balance on the date of filing (or at least pretty close).

[AngelinaCatHub]

If your unsecured creditors will receive at least $1,200 in your Chapter 13, the secretary is correct that having that amount in your checking account won't make a difference. Just make sure the balance listed on the petition is the balance on the date of filing (or at least pretty close).

It is a mortgage on his house so it is secured. If he has less that declared on his forms that would be fine as you do have to live, food, fuel, etc. Since he stated the auto draw will be covered, an implied idea is that it will just cover it.

I think he is OK in this case. 'Hub

[justbroke]

Both answers above are correct. If your creditors are getting at least $1,200, it's not an issue. As a matter of fact, in my Chapter 13, the Trustee really wasn't interested in my account balance and never asked for statements. Additionally, paying secured creditors is okay, but in the Chapter 7 context, you want those checks CLEARED on the day you file!

The only thing with the bank statements is to make sure you don't have many thousands of non-exempt money sitting in some account.