Filed and had funds in bank account.

[05mag]

Well, Our lawyer filed for us yesterday ( no asset chapter 7 )and I had the bank account down to $20.00 . Then today I went on my banks website and saw that my pension was deposited yesterday instead of today like it normally is. So now it shows I had over a $1000 in there when BK was filed. Called the lawyer and he said it depends on the trustie if they want to go after it, just what I need!!! Anyone have money in the bank when they filed and did they take it? Got me real worried now.

[kartoons19]

Well, Our lawyer filed for us yesterday ( no asset chapter 7 )and I had the bank account down to $20.00 . Then today I went on my banks website and saw that my pension was deposited yesterday instead of today like it normally is. So now it shows I had over a $1000 in there when BK was filed. Called the lawyer and he said it depends on the trustie if they want to go after it, just what I need!!! Anyone have money in the bank when they filed and did they take it? Got me real worried now.

I had $300 in my account on filing day. In Colorado there isn't a cash exemption or wildcard, so I was a bit concerned about it. Plus the trustee could have taken 25% of my next paycheck, which would have been about $200. The trustee didn't take anything. So even though it was unprotected, I guess the amount wasn't enough for the trustee to go after it. That works for me!

Does your district have a cash exemption or wildcard you can use? Hopefully it will work out for you.

[nomoneyhoney]

Well, Our lawyer filed for us yesterday ( no asset chapter 7 )and I had the bank account down to $20.00 . Then today I went on my banks website and saw that my pension was deposited yesterday instead of today like it normally is. So now it shows I had over a $1000 in there when BK was filed. Called the lawyer and he said it depends on the trustie if they want to go after it, just what I need!!! Anyone have money in the bank when they filed and did they take it? Got me real worried now.

if you're really worried you can file an amendment. i'm not sure how much you will be charged for it since you are represented by an attorney.

[05mag]

I'm in Florida and your allowed $1000 in assets but that was used on our personal belongings.

[05mag]

Guess I'l have to wait till the 341 to find out what the trustie will do. Another month of nail bitting !!

[tobee43]

we had auto deposit for pension and ss....as soon as it hit we ran and out it out and it ALL shows on your bank statements...the trustee didn't say a word to us about it.

it will or should be no problem at all.

[05mag]

I sure hope they overlook it. Most of it's gone already to pay morgage (keeping house ) and electric bill.

[bigtim6656]

wow I am glad indiana has an 8k wildcard. 1000 bucks that sucks

I'm in Florida and your allowed $1000 in assets but that was used on our personal belongings.

[tobee43]

i filed ...don't now LIVE in fl....OP you will be just fine i'm sure!

[tcreegan]

Hello 05mag,

Fla does exempt pensions for most govt employees (federal, state, firefighters, police, teachers) and tax-exempt IRA, Roth, type accounts.

I hope you don't have a problem,

Tom in Colo

[05mag]

My lawyer said if it were my SS or VA disability he could exempt it, but my pension isn't goverment or state so it's open game I guess.

[wnguyen]

Hi mag

When I filed, I had around $1900 in all of my bank accounts. I was worried that the trustee may take a big chunk of out it but since Minnesota allows federal exemption, my $$ was safe. Since Florida doesn't allow you to use federal exemption, I think you might be able to use federal non-bankruptcy exemptions or federal supplement exemptions but I'm not sure if I remember correctly. Just check with your lawyer to find out. For federal non-bankruptcy exemptions, pensions are unlimited amount if it was the following: civil service; foreign service; military; social security; veterans benefits; veterans medal of honor benefits.

[tobee43]

we don't live in fl now...but..we filed in fl...and had a state pension from another state...it was exempt.....ss.....was exempt...and apparently the district we filed in unemployment payments were exempt...

i have heard others that filed in fl...that the unemployment ins payments were not except...but we had no problem. it put us over the means test.

[teek76]

does money in the bank actually mean what your balance was as of the day you filed? And we have two accounts that records have been monitored for, business and personal.. does that mean balance between the two? As soon as money was deposited, it went right back out for bills etc, but our schedules show $1000 in the bank..which I think is incorrect and about to be amended anyway. Just not sure if they mean extra thats been sitting there or any balance for that day.?

[05mag]

I believe in FL. it's anything over $182 in your account that they can go after, my pension is from a construction union so it is not exempt. Lawyer wanted checking account down to $20 on day of filing, but pension was deposited a day early for some unknown reason. Filed the 31st and pension normally doesn't show up till the 1st. No way to exempt it so if trustee wants to take it-----they can !!!