$8500 in checking

[JRScott]

I agree with the others, don't file this coming Monday. Delay filing a week or two more if you can. Let the lawyer know what you are doing.

Go ahead and spend the money as you have planned, also as others suggested visit the doctor, eye or dentist, etc if you've not been in a while. I got rid of some of my extra monies going to the eye doctor.

If you file monday after spending 8k in 5 days I like the others think its gonna be a red flag to the trustee.....

[BKTango]

Is your condo being foreclosed upon right now or are you planning on surrendering it in the bankruptcy? In other words are you in a mad rush to file on Monday in order to save your condo?

If you just answered yes then you have a decision to make..Lose the $8500 and save the condo or lose the condo and save the $8500.

If you are not pressed to immediately file and can wait out another month, then spend that money on necessary expenses you have been neglecting and then file and as others stated make sure you file on a Wednesday or Thursday as would be the last day or so before your check comes into your account, so therefore your account "looks" empty the day of filing.

[troublmaker_98]

i'm in michigan and had $8k in the bank. my attorney recommended i withdrawl and open a new account (my checking account was with the credit union that was going to included be in the bk). and to wait a month before filing a ch 7 (among other reason to wait a month). it was advised i spend the money "wisely". same as people have mentioned here, on medical items and necessary things. in addition, for me the money was paying the 'other' bills not included in the bk(cell phone, car insurance, etc). the money was spent on living expenses rather quickly. the day i filed i had $2,000 which was protected with a wild card. For sure speak with an attorney, he/she will pretty much lay out a safe plan for you on how to spend/protect your cash.

[OneDay]

Our reason to file "soon" is residency issues. We want to file in Colorado rather then Nebraska because of different exemptions and so forth. We are pressing the issue of being able to file in CO if we wait much longer.

The condo is coming close to foreclosure but is not at this moment, we are giving it up. The housing market went south in CO in the last year, average days on Market when we tried to list with an agent was over 400 days...We really dont have any equity to try and save either.


I am calling our Att. to ask a few questions...

[AreSoonParted]

Be very careful

I just filed in CO this week and had to burn thru my $2300 paycheck I got on the 1st.
Paid the Lawyer, Paid Mortgage (keeping house), filled the freezer, filled the gas tanks, made sure kids had shoes that fit, etc.... I left $58 in the bank when said and done.

I'm in Colorado, unless you are disabled or over 60 the car exemption is only 3k. Be careful about dumping a lot of cash in the truck.

I was in a similar situation regarding which state to file. For me it was Indiana vs. Colorado.

If you haven't I'd have a long talk with your lawyer, since you are giving up the condo anyhow, is there a reason you want to rush to file with CO exemptions???? I don't know Nebraska exemptions, but CO is not really generous.

Good Luck, and make sure you know what you are doing AND WHY. As my Atty said "Once you file...there's no do over's"..

Let us know what happens

[SinkingFast]

Our reason to file "soon" is residency issues. We want to file in Colorado rather then Nebraska because of different exemptions and so forth. We are pressing the issue of being able to file in CO if we wait much longer.



I am calling our Att. to ask a few questions...

Which way are you moving??? From Nebraska to Colorado?? Or the other way around??

Either way,............ You have to live in the New State for 2 years before you can use their Exemptions anyway. So if your Old State has the better Exemptions, it really doesn't matter when you file. You'll have to use Old State Exemptions in the New State.

[danaf]

if you move and have to use old state exemptions, does that mean you use old state's median income as well?

[OneDay]

we moved from CO to NE.

The income is a huge issue between the 2 states.

$62k roughly in CO
$52k roughly in NE


*what gets me is BK is a Federal Case but yet so many states have varying exemption... I do understand the need for differences between them but still....