Spending money before 341 meeting

[CCBmama0f3]

We will be filing in the next 2 weeks and I am trying to do everything right so this goes very smooth. When I asked my atty if he needed my checking account/ savings account statements he said "no" only the balances on the day we file. Will they ask to see a copy of our banking account statements? We aren't using credit cards but I didn't know if for example I get a $80.00 massage using my checking account will they see that and question it. Do they ask for statements to see where exactly we are spending our money? Is there a certain amount that we can spend on recreational stuff or personal use without it looking bad upon us? I am only asking hypothetically we haven't spent anything besides groceries, home maintenance so far but I need advice. Thanks!

[SunshineGal]

I'm not familiar with your states requirements, but we had to show 3 months of statements for all accounts. I would think that one $80 massage won't raise an issue, but if your spending $300 month on massages, etc., it could be a problem. Same with recreation, $100 month probably won't be a big deal, but spending $100 week would probably raise some questions. IMO, far better to play it safe.

[frogger]

Chapter 7 BK filing is a snapshot of your financial picture on the day you file. The bank statements that you provide are based upon day of filing.

At your 341 meeting, you are going to be asked if anything has changed in your financial situation, and you will be asked for your ss card and drivers license.

As long as you have been honest with your financial situation, you will have no problems.

[Clabbergirl]

My lawyer asked for bank statements for the 6 months prior to the month I filed in. I've read similar things here about the financial state you're in on the day you file being the only thing trustees care about, but my 341 hearing is tomorrow. I'll let you know if the practice is different than the theory.

[CCBmama0f3]

Thank you all! I have all my statements 6 months prior to filing printed and ready to give my atty but he looked at me like I had six heads, and said he only needs to know the balances. So I hope he knows what he is talking about.lol

[Clabbergirl]

Just came from my meeting of creditors, 341 meeting, and neither my attorney nor the trustee asked for more bank statements or anything else. I was in front of her a total of maybe 5 minutes. I'm still sort of shocked that it was so short and quick, and wondering if this is some kind of calm before the storm. Of the 7 people who went before me, she did not ask them for any more paperwork either. She announced at the beginning of the meeting that if she requested something we did not have with us, that we could submit it within the time frame she gave us. Of course every state and trustee is different, so I'm telling you this only as an example of my situation. I hope everyone's is a simple.

[CCBmama0f3]

Thank you!! My atty seems very knowledgable but it is hard trusting someone that you barely know.lol I appreciate you sharing your story, I just want things to go as smooth as possible

[JEM]

For us, we had to give attorney 3 months of bank statements for all bank accounts before filing. At our 341 we were to bring snapshots of the account balances for the day we filed. The trustee just glanced at them and handed them back to the attorney.

Our attorney's advice was to live and spend "normally" but "reasonably". If you've had a long day and need to stop at Chick-Fil-A for dinner, don't worry about it.

If you need to replace your coffee pot because it goes on the fritz, don't worry about it.

Now, if you feel you need a week in Hawaii to relax, THEN you should worry about spending that money. LOL.

[CCBmama0f3]

LOL!! No vacations planned but wouldn't it be nice.............lol I am just so used to not having money, now that we have stopped paying our credit cards we have some extra cash and I actually feel guilty for using it. Thanks for the advice!

[pikaroth]

You already got plenty of replies, but I wished to throw in mine. Having just gone through my 341 (note that I'm in Orlando), my trustee did require the last three months of bank statements up to and including the day of filing. If you are at all curious, just check my most recent topic about the meeting - she was VERY strict with people that did not have them to her at least a week before the 341. Anyone that brought it with them that day, minus one person that she made an exception for, was told the meeting was continued, and she would NOT accept them on the spot.

However, as I said, I'm in Florida, and your trustee may differ.

In regards to your other question about what you spend your money on. At my meeting she questioned nothing of mine at all. True, I had no major expenses or new purchases, I think the MOST I spent before filing was around $100 on Amazon and went out to eat at some decent places a few times (tax return). Other than that, I had fast food/gas station type of food nearly daily (due to my job and doing shift work), but nothing was questioned. She only thing she questioned at all the meetings I witnessed were, say, someone going on a vacation or very, very odd things like one guy who had multiple debits for renting cars.

Given what you said, and what I personally witnessed, nothing would be questioned.

[CCBmama0f3]

You already got plenty of replies, but I wished to throw in mine. Having just gone through my 341 (note that I'm in Orlando), my trustee did require the last three months of bank statements up to and including the day of filing. If you are at all curious, just check my most recent topic about the meeting - she was VERY strict with people that did not have them to her at least a week before the 341. Anyone that brought it with them that day, minus one person that she made an exception for, was told the meeting was continued, and she would NOT accept them on the spot.

However, as I said, I'm in Florida, and your trustee may differ.

In regards to your other question about what you spend your money on. At my meeting she questioned nothing of mine at all. True, I had no major expenses or new purchases, I think the MOST I spent before filing was around $100 on Amazon and went out to eat at some decent places a few times (tax return). Other than that, I had fast food/gas station type of food nearly daily (due to my job and doing shift work), but nothing was questioned. She only thing she questioned at all the meetings I witnessed were, say, someone going on a vacation or very, very odd things like one guy who had multiple debits for renting cars.

Given what you said, and what I personally witnessed, nothing would be questioned.

Cool! Thank you! I appreciate all responses especially from different perspectives. That is what I'm preparing for. I am saving all receipts and ready to explain every purchase. I figure if I prepare for the worst, I will hopefully be able to handle anything.

[keepmine]

The primary reason for requesting bank statements are, to see if deposits jive with payroll information and, did you write a check to repay an insider like a relative in the months before filing.
Nobody is going to worry about a few dinners or movies.