Zero balance bank accounts

[debrouillant]

I am sure this question has been posed before - but the search tool on the forum picks keywords on its own, and it's tough to find a relevant post.

Do you have to list bank accounts that have zero balances on your asset report (Schedule B)?

I have a couple of savings accounts that have never had any money in it. They were opened concurrent to checking accounts (banks seem to do that nowadays).

Thank you

[Crassius]

Bump

I have emptied checking a savings accounts that have zero balance... do I need to list them.

I'd like to keep them off my paperwork.... what about brokerage accounts w/ zero balance?

I will still have student loans after BK... which I hope to get back on track w/, but I don't want
to make it collections any easier for them in the future if they become difficult to arrange a repayable
schedule with and I end up with a judgement against me after BK.

Since they do not have any money in them, they seem immaterial to the BK case... there is nothing
for the Trustee to go after in a zero balance account, so why list it?

[SunshineGal]

I would list them, even if they don't have any money in them. On your petition you want to disclose everything, otherwise the trustee might think you are trying to hide assets and that just creates problems.

[Crassius]

Sadly I have come to this conclusion.... I'm just gonna bare my naked soul to these people and tell them everything, and be able to back it up... even an account with zero in it. I'm just so worried about not being able to have a checking account after BK....

Credit I will never use again, don't want it.... but a checking account and a brokerage account are essential to me... now I fear the student loan people will quickly grab a judgement as I will have laid out all my accounts for them, and they will all be useless to me, or in the case of brokerage accounts, closed.

[tcreegan]

Hi Crassius,

Why not close them and open new ones post-filing? I think you have to list all accounts, zero balance or not. And even if not, it might look bad to the trustee if they found out and you hadn't disclosed them.

I hear you on the student loans....makes you feel like an indentured servant to the US Dept Ed

Tom in Colo

[debee]

Yes, I'm with this bunch. You have to list them. Even if you closed them, you'd still have to list them.