What happened to Planetary

[uneasy]

I am really shocked by what happened to Planetary--having all the money in their accounts frozen, even money borrowed just to get by. So it looks like emptying out your bank accounts is the smartest thing to do when-or before-you file. But, don't you also have to put somewhere on one of the schedules info about how much cash you have on hand? Would they go after you personally, and not just your bank accounts, if you take all of your money out of the bank before you file?

I can't see how to avoid this without it looking like you're hiding assets.

[Doghouse]

It's sometimes standard protocol for wells fargo to freeze accounts when you file for bk. He'll probably get the money unfrozen soon. It's just the headache of missing payments for bills and necessities that will affect him.

Just gotta plan ahead and move your cash money to another non-owed financial institution as soon as you decide to plan for bk filings.

[StartingOver08]

Yes, there is a spot right in the petition to list cash on hand.

[phoenixrisin]

Just because you choose not to keep your money in the bank shouldn't mean you are hiding it. We are just all indoctrinated to think that way. You don't realize how much they can hurt you with fees until you get slapped with charges.

Also, life IS alot easier with a checking account. I just think next time I will actually READ the 14 page document they give me when I sign up for an account. Like about: bank levy charge $150. Cross-collateralization...etc.