Checking Accounts

[jb300]

I have 2 banks and in one bank I have 3 checking accounts that I need to close. They have credit lines attached to them and the overdraft protection just keeps getting a higher amount on it due to the interest and they take payments out the the accounts to make a payment on the reserve accounts.

I wanted a local bank so back in late fall I opened another business account in my local bank and then a couple of months ago opened a personal account in the local bank also. Then about 2 weeks ago I opened a savings account at the local bank and put $100. dollars in it for some overdraft protection for both accounts.

I want to go tomorrow and close those accounts with the credit lines on them. The attroney I talked to last Monday told me those would be included in the BK. I have forgot to contact my life insurance co. that takes an automactic payment out of one of those accounts so there has been recent activity in that account, otherwise there has been no activity since late Jan. early Feb. in those accounts. Except I discovered what I think are 3 fraud charges on a statement I looked at yesterday. They had foreign currency stuff listed in the transaction and I have never done anything overseas.

I told him I wanted to close them and he didn't tell me not to. Is the recent activity in these accounts going to hold me up for a month or two in being able to file and should it be ok to close those accounts?

[StartingOver08]

No, those accounts should not hold up your filing at all. You will need to supply the statements as they are in your lookback period. Contest the fraudulent charges with the bank before you close the accounts. File an ID theft report too.

Remember to download to your hard drive all of your bank statements for as long a period as you can (min 2 yrs) before you close the accounts. Once the accounts are closed, you will not have access to the statements. If the Trustee wants to see more than 6 mths - then you have them available to you.

[jb300]

How many months of statements do I need to have? Due to my business I have most if not all of them for the past 18 months.

I did contest the fraud charges and how do I file an ID theft report?

Thanks

[StartingOver08]

You file the ID theft report with the police. They will take the reports - they have to take them.

You want to have min 2 yrs of statements saved. If you are under median, 6 months should be ok. But if you have large debt or a business, save 2 yrs in case the Trustee asks for them.