checking acct how much can be in there

[NOMOREBADCREDIT]

i filed ch7. how much money can i have in my bank acct i dont have no more then 700.00 in there every month to pay my rent. will this be a red flag also my job puts my pay check in my account every week. iam in the state of maryland. thanks

[JRScott]

Check your balance on the date of filing. That is what is part of the bankruptcy estate. Ideally it should be low, say less than 200 dollars. However you might could get by with more if you have unused exemptions leftover that could have covered it. (Usually a wildcard exemption in some states)

[NOMOREBADCREDIT]

Check your balance on the date of filing. That is what is part of the bankruptcy estate. Ideally it should be low, say less than 200 dollars. However you might could get by with more if you have unused exemptions leftover that could have covered it. (Usually a wildcard exemption in some states)

at the time of filing i had nothing in the bank.

[JRScott]

Then you should be fine.

[NOMOREBADCREDIT]

Is it okay to keep letting my job put my paycheck in my acct weekly

[HelpThisGirl]

How do they know how much you have in the bank if you don't give them a statement? Is it on your word?

[Boscoe]

No, not on your word. You should see if your bank has online banking - then sign up and review your balance online each day for the few days up until you file.

One other note - you will want to file the day before your next paycheck hits your account if you have direct deposit, or the day before you get paid. That way, the amount in your account is minimized.

[lrprn]

Is it okay to keep letting my job put my paycheck in my acct weekly

If you have already filed, then yes, it's ok to have your paycheck auto-deposited. In Ch 7 your bankruptcy estate is established on the day you file. Your trustee has no right to any money deposited into the account after you file.

[CindyLou]

How do they know how much you have in the bank if you don't give them a statement? Is it on your word?

ANYTHING in you bankruptcy can be audited or reviewed by your trustee at ANYTIME during you bankruptcy. You could get a letter from your trustee requesting anything from credit card statements from 6 months to 2 years ago or bank statements, etc. They can ask for anything they want, really. I have seen members of this forum have to cough up documents from 2 years ago! Just because they don't ask up front doesn't mean the won't ask! Your word has to be fact! Your word as to be truth. You have to be able to back up your word. Your attorney is also signing a statement that he has examined your documents and that the information he is submitting is true and correct.