Help!`

[OverExtended05]

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I know that I have asked this before but please any input would be wonderful!

I have now had two ACH for my mortgage payments clear the bank, even though the account is overdrawn.

Good news, my mortgage accounts are paid up until September.

Bad news, my account is overdrawn $873.31

We dont want to keep the account from this bank anyhow and have opened a new one at the credit union.

Will this look fishy to the trustee when he reviews my bank account?

I can still file BK7 on the bank account?

Thanks guys!

Oh MY! I just looked up the account online and I didn't realize I must have set up a ACH for the van It now says Transaction pending, account overdrawn $1313.59!!!!!

[davidb81]

Its going to look fishy to the bank first then it will look fishy to the trustee when the bank informs them of it. I would think that if you filed on that bank account they would have good reason to file an objection. you are adding to your balance on your account just as if you were using a credit card. By the way I would bet the bank would have the power to reclaim those payments.

[OverExtended05]

do you think they would?

[davidb81]

did the bank actually cover those payments? even though the money wasnt there?

[OverExtended05]

yes

[edwards2]

Our bank does the same thing but we have overdraft protection. They told us they would pay our checks even if we didnt have the OD protection because we have had an account there a long time and they know, based on our deposits, that we would cover the checks. They also told me, believe it or not, that another reason they do it is because they know how embarrassing it would be for them to decline one. Sure..,..nothing to do with those outrageous fees they charge...right..They do look at your bank accounts closely. I was surprised how much the trustee knew about ours. She pulled out several checks we paid and asked me about them. Fortunately, they were for the house payment, taxes and school.

[poor1]

does the trustee monitor your checking account if you did not include any od charges in your bk petetion? just curious cause my account has not been overdrawn nor have any od charges taken place.

[herekitty]

My bank has the OD protection at no charge because I've been with them forever as well ... of course, the charge for an NSF is $35 plus $5 each day it's over drafted - and they mail you a notice so they make at least $20 by the time you get there ...

Poor - to my knowledge they don't technically monitor it - you do have to provide bank statements to your trustee though, I've heard anywhere from 3 months to 2 years.

[poor1]

oh okay, i did give my attorney like 2 months worth of statements (thats what he asked for) do you think they will ask for more? just wondering so i can go ahead and start gathering more up, i guess i should do that anyway just to be safe huh.

[Minnymouth]

Poor1,
Nothing like "being prepared" for the Trustee......save yourself some grief and go ahead a get it together.....whether you need it later or not...

Minny

[poor1]

thanks minny, i will do that!! just curious... once your 341 meeting is over do you think they may ask for them at a later date or is it true that once you make through your 341 you are pretty much good to go?

[Minnymouth]

Poor1,
If any extra paperwork is requested its usually done before the 341 meeting or at the meeting.
Unless there are creditor objections after the 341 meeting (60 day waiting period) usually the 341 meeting ENDS IT ALL - till you discharge comes thru.....and then your closing.

But most people are thru after the 341 meeting - it just waiting on paperwork after that....

Hopefully you will have "no complications" in your case - most people don't.......

I'm just "one of the lucky ones" - WHO HAD ALL HELL BREAK LOOSE AT THEIR 341 MEETING !!!!

BUT REMEMBER - My case is EXTREMELY RARE......

So sit back, go to that 341 meeting, count your blessings, and hopefully it will all be over - quick and clean....with a "new start" for you!!

Minny

[herekitty]

Minny -

What happened at your 341? Where there objections? I'm afraid my ex - who is going to be listed as a creditor - might show up. My lawyer hasn't informed me of what exactly happens when he does on that he'll take care of it - what ever that means...

[Minnymouth]

AT 341 meeting I found out the mortgage company did not have a legal "lien" against my home - the title was bad on it - so I owned it free and clear and the Trustee TOOK IT............as an "asset".
I had filed a simple Chapter 7 (where I was supposed to KEEP my home)......until that happened.
Go under search and put in "minnymouth" and it will bring up all my postings or key in "unperfected title" and it will bring up the issue on the title part. Also "Chapter 7 Nightmare" will bring up some of the posting.
Minny

[Minnymouth]

But remember - my case is extremely unusual -- 1 in a million I've been told......
Minny

Let your lawyer handle your ex!!!