Bank accounts

[Sherri]

Hi...first post here. Did a quick search but didn't see this subject. Filing next week (knots in stomach). We have a checking acct at a credit union with an overdraft amount that will be included in the bk. We have a second acct at a different bank that is only for our car loan which we are current on and we are keeping the car. We have opened a new checking at a new bank where we have never done business before, so we will have someplace to direct deposit and pay our bills from. Will we still be able to schedule our automatic payments from oue new checking account, or is there a hold on all accounts after we file and before the discharge? If there is a hold on everything....how do we get our bills paid?

Thanks for your help.....glad to have found this site even if I stayed up way too late last night reading.

[shrews228]

Hi! Don't worry. We filed on March 15, and we still use our bank account. I think you would only have a problem if you were still using the account that is included in your BK.

[daylate]

Any money coming in after you file is ok to spend. If you had only enough cash to fully exempt it, I believe you can spend it. If you had say 10k but could only exempt 1k then don't spend the other 9k-the trustee will want that. Search post here on how to spend down your cash to an exemptible limit before you file. Briefly, you will have to prepay your attorney(assuming you have one) make sure all your bills/rent,etc is paid for the following month,buy all the food & household supplies you can store.Fix your car. Buy new tires. Go to the doctor/dentist. Buy the kids new shoes. lotso f info on this on the forum. Good luck.