Open new bank account when??

[canusaybroke]

We are filing on June 5th. We have a savings and checking acct with our credit union. We are also custodians on our sons acct (2 1/2 years old) with the same CU....seems as how we are taking down two Visa cards with the CU we are going to pull his money and open a new account somewhere else. Do we open a new checking and savings for us also? before we file? after? before 341? after? also do we let the atorney and trustee now we opened a new account??

[optimistic1]

You could do it before or after, either way, unless you are in chex systems (writing bad checks), then it shouldn't matter either way. And if you do it before, yes you do need to tell your attorney about the other bank account, even if the balance is 0, just to be on the safe side.

[freshstartfl]

Do it before you file, just in case your CU has any cross-collateralization clauses. You wouldn't want to risk them freezing your bank accounts over late payments on the credit cards. Include bank statements from both the old and new accounts in your lawyer's "packet" of paperwork.

[Rick9972]

And perhaps most importantly, have the statements to show what was pulled out of one bank was directly deposited in the new account.