money in bank when filed??

[berrymom35]

I was just looking over some threads...and one said that they could have no more than $300 in the bank the day they filed? How would I find out what this number is in my state...Missouri? I don't remember my atty saying I had to have under a specific amount...my dh says he remembers her saying something about $1,200 the day of the 341. Can anyone help?

I just looked up my account online and we had 790 at the beginning of the day and 590 at the end of the day....Is this too much to have the day that we file? This is so nerve wracking and embarassing....I hope every swipe at mcdonalds is not combed over....

[MiSSMaGoo]

I had bout $1000 the day of filing. I was super worried. My attorney filed me on a direct deposit day. The trustee never even asked for my bank stmt.

[StartingOver08]

OP, look to your states exemptions. Look in this link: www.legalconsumer.com

Make sure you have exempted the cash in your bank account and cash 'on hand' along with your other allowed exemptions.

Here in Fl, I could only have $100 (you read that right) because the exemptions here are extremely small. $5000 total for everything if you are giving up your home. $1000 for the car.

The issue is, what are your state's exemptions and how does your stuff fit into the exemptions. This determines what you are allowed to have the day of filing.

[AngelinaCat]

We had a negative balance in our account the day we filed. I had perhaps $10.00 in my wallet. I don't remember how much 'Hub had in his, but it probably was around that amount also.

[Kpower]

what if you can show you have checks against the account pending? Does it matter? Not everyone cashes their checks right away which can be annoying.

[liz417]

what if you can show you have checks against the account pending? Does it matter? Not everyone cashes their checks right away which can be annoying.

You want the minimum amount possible on file day. My attorney screwed up and filed on Thusday, the same day my payroll direct deposits into my account. He was suppose to file on Friday AFTER I withdrew the money! Nothing was asked about the $$ at my 341.

[Over our heads]

If you typically pay bills by paper check, get M.O's for that week so the money is immediately gone from your account.

In MO, we had roughly 1k$ left that we could have safely kept in the bank, but we still timed it to file the week after he got paid, the day after all the monies were debited. You will have to give the TT 2 months of bank statements that includes the day you filed. The day before we filed there was 2k+ in the bank, and the day we filed was less than 100$. I also make large w/d's on payday, usually 700$ or so. This is gas/grocery monies, done every other week and the tT never questioned it.

[kw1025]

it also depends if you owe money to the bank your checking acct is in, like a loan, or overdraft. If you owe them money, they can sweep your account. Any outstanding checks that have not been cashed, won't be, which is no biggie, unless it is your mortgage or something that you want to keep.

[destitute]

Im filing tomorrow and to be safe I withdrew 2k from my checking account, purchased a money order and paid my mortgage so that there would only be about $50 left in the account tomorrow morning. I made sure I kept receipts of everything in case i get questioned why the money was taken out the day before filing.

[veggirl]

what about savings? if i move it there is it ok? my lawyer told me up to 10K is ok but nothing more

[damooster]

I also filed on a payday and nothing has been said about it so far. At the 341 hearing yesterday, the trustee asked for a copy of the bank statement reflecting the date I filed. I had that statement, and the one before that to show that I had $22 before the direct deposit. They didn't seem to care at all; they looked at the statements and handed them right back.

[justplaintired]

The date we filed we had $318 in the bank. Indiana allows $300 per filer, which gave us $600 allowable. We made sure when we filed we fell below that amount. The trustee looks at the amount the exact date you filed, which is easy to see on a bank statement. The day before and day after is not of any concern to them, unless it is a huge difference within a short period of time and it can not be explained within reason (mortgage...)

[justplaintired]

what about savings? if i move it there is it ok? my lawyer told me up to 10K is ok but nothing more

$10K where? in savings? Moving money from one acct to another seems a bit odd. Your attorney told you it's ok to have $10K in savings? I would sure make sure I understood that one before filing date.

[Ruinouswax]

I hope I'm okay. I also filed on payday. I had $868 available, I withdrew $800. With that I gave $570 to the attorney for my last payment and spent all but about $15 of what was left on groceries. I didn't even think to save the grocery receipt but maybe I still have it at home. I'll be sure to keep any receipts for money I spend between now and the 341.

[veggirl]

no she actually said up to 10 K in checking but nothing over...i have about 2k in savings though (all from 401k cashout though) keep an average of 700 in checking though
she said i should be ok