Boy did I screw up!!! Wells Fargo froze my $$ in California Chapter 7 filing

[fleeteric]

So I had a friend prepare my paperwork for my chapter 7, And filed on Thursday.
Did not disclose monies in my Wells Fargo account, as I was going to pay off my truck the next day.

And...waddaya now...Wells froze 8800.00...everything i got.
Now...a little late, I see this is something that Wells does.
I am missing 4 items in my filing I have two weeks to get these into the clerk, but obviously, the BK is filed.

So what do I do now???? Rescind the filing? re-do the paperwork to include the Wells account?
Is my money history?


Help !!!!!!!

[free2breathe]

Your first mistake was not disclosing an account of that size. HUGE red flag. If you have the funds in your account at the time of filing, the trustee will see that on your bank statement. You really should amend your petition to reflect the account and then say your prayers, because the trustee ain't too likely to be happy about that.

Of course, if you can exempt any/all of that money, you should. California, from what I understand, has some pretty excellent exemptions. However, it's still going to be a red flag that you didn't disclose those funds in your petition.

Once a Chapter 7 petition is filed, you can't just rescind it. If you don't turn in the other paperwork, it could get dismissed, but that's probably not a great route to go. Check into the exemptions first. Maybe a few of the CA filers can jump in with some ideas for you.

[ccsjoe]

If you're using CA system 2, you have a great 23K wildcard to use to exempt anything, cash included. I presume since you said you're missing 4 items that you filed an emergency petition, with the guts to follow in two weeks? Shouldn't be a problem submitting the correct paperwork then, even if amending schedules, etc. Make sure you do this right. As for Wells releasing your funds, the trustee will have to get involved.

[fleeteric]

thank you! Nice to hear something positive

[free2breathe]

I knew joe would have exemption info He's the resident California exemption "go to" guy

[tcreegan]

Hi fleeteric,

Did your friend have experience w/ BK filings? If not, there is a good reference book called NOLO www.nolo.com
If your friend hasn't already, a visit to your local BK court to find the 'local bankruptcy rules' is in order.

Not including the WF acct, paying off the truck right before filing, these sort of things can derail your BK case. Since your filing is not complete yet, this is a good time to go over everything and get it all correct. Definitely want to have all your ducks in a row before the BK trustee gets ahold of your filing!

Good luck w/ this, keep posting and folks here will do their best to help you out!

Tom in Colo

[fleeteric]

well....he's a paralegal, said that the WF account wouldn't matter much, since I had another, small account.
How wrong is that??!! No wonder he was so cheap.

Anyway, I need to take another class...and I was missing like 4 different misc. items. Have 2 weeks to get them in.
So I will re-do my stuff....I have till the 13th of Jan to see the trustee.

Thanks all...for any and all info
Then I will petition the trustee to release my Wells funds....good luck with that!!