How much money to have in checking on file day.

[StartingOver08]

Yes, it is best to take the money out cash or money order so that the remaining funds are at the amount disclosed in the petition. It is best not to "assume" the check will clear before the filing date - you know, Murphy's Law!

Stop using your debit card about a week before the filing date so everything is cleared before the filing date. After you file, then you can go back to using the account normally. Some districts are very strict on this and others appear to be not very strict at all - your attorney will know which way your district leans. If you are filing pro se, then I would be cautious and assume that the Trustee is strict. JMO.

[desertgrl74]

I'm in NV and have 341 in two weeks. I have taken out small loans out at a loan center. The most was about 450 and so they automatically take it out of your checking when it's due. Is that going to be a problem with me?? It shows it right on my latest statment. I used it to get groceries and gas. I'm looking around for receipts..not sure if I'll find them. Now, what if I am overdrawn with my bank? I have direct deposit with my job. I'm stressing now. Do you think I'll be asked for receipts? I was never told to keep receipts, but to keep my balance below $100. Should I worry?

[leena]

I'm in NV and have 341 in two weeks. I have taken out small loans out at a loan center. The most was about 450 and so they automatically take it out of your checking when it's due. Is that going to be a problem with me?? It shows it right on my latest statment. I used it to get groceries and gas. I'm looking around for receipts..not sure if I'll find them. Now, what if I am overdrawn with my bank? I have direct deposit with my job. I'm stressing now. Do you think I'll be asked for receipts? I was never told to keep receipts, but to keep my balance below $100. Should I worry?

I think the worst that can happen with the payday loans is you will be required to pay them back.

[AngelinaCat]

We were told to have our account balance as close to zero as possible. In fact the day we filed, it actually had a negative balance. Our attorney said nothing about keeping receipts--she wasn't very informative anyway--but I tend to be a receipt keeper.

[desertgrl74]

Well it was already paid back to them. I was wondering if it was going to look bad that I took one out in that amount. But, I seriously needed groceries and gas and to pay for car ins. Don't have the receipts. But looking around for them.

[leena]

I don't think they will be a problem if they were paid back. I had a series of those in July, and finally got them cleaned up then so none on my August bank statements.

I think the trustees are pretty use to seeing those from people who are trying to make ends meet. They know I think that you are not borrowing at the cost of $10.00 for $100.00 borrowed so that you can go party, in all likelyhood.

I did Wells Fargo cash advances and had a running balance on them for about 9 months, sometimes paying $100.00 in interest per month... Never again!!!

[ohio]

Had my 341 yesterday and I was also worried about this question because the day I filled out the paperwork I had $50 in the bank. Day I filed, I had just over $600 in the bank. That made me nervous because everything I've read says you are supposed to put the amount on day of filing.

The trustee asked me if I had over $800 in the account on the day of filing. I said, "no" and that was the end of that. Didn't ask me what I had put, even though he was looking at the page on my petition for that. I live in Ohio, so, at least in Summit county, apparently as long as you don't have more than $800 in your account on day of filing you are ok.

[drowningNdebt]

as sad as is this sounds but true, -750. Yup I'm really BK. I included this balance on my petition as I had electronic debits that the bank paid for me. However, I did open a TDBank account and deposited $100 in it and on filing day had $2.00. That was my cash on hand. I hope to get a healthier financial start in 2010.