CASH withdrawl time frames and large amounts? Trustee suspicion or..........?

[theEYE]

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[kiddles]

I don't know that there are hard and fast rules about this - it seems to vary from one district to another and one trustee to another. Are you using an attorney? They can advise you here.

[lrprn]

what are the time limits on cash withdrawals and in particular the amounts that would raise the eyebrows of the trustee handling the chap. 7 im considering?:

Current law sets the time frame at 70 days before filing for a cash withdrawal and 90 days before filing for credit card charges. The time limits are when the burden of proving you didn't know you were going to file when you borrowed the money shifts from you to your creditor.

How much money will trigger a trustee's interest varies depending on the reason for the withdrawal and whether it is vulnerable to seizure by the trustee (for ex, cash not protected by an exemption). Typically amounts under $1K will not be investigated.

Keep receipts for everythign you purchase with the advance just in case and restrict the spending to living essentials.

[SinkingFast]

Live normally prior to filing BK.

Let your bank statements show you moved money from savings to checking to pay your attny's fee, your auto insurance, whatever. Use your Debit Card so it says Wal-Mart, or your Doctor's Office. Get copies of your checks if your bank doesn't include copies on your bank statements.

Purchase Money Orders to pay bills and staple the stubs to your bill statements.

Bank acct statements are very good paper trails of where your money goes.

[ssdsco]

what are the time limits on cash withdrawals and in particular the amounts that would raise the eyebrows of the trustee handling the chap. 7 im considering? i have some cash in checking account and want to withdrawl carefully without getting a denial in the future. i was planning on doing so in about 90 days. WILL the trustee require reciepts from all that I spend the money on? What about day to day living?

If these are cash withdrawals from your checking account there's no time limit. Keep receipts and documentation showing where the money went. If you buy anything of value include it in your BK filing as an asset.