Bank Accounts

[cz3ch]

I filed my case on 9/30/12 at which time I had money in two different bank accounts (both accounts listed on my petition). My attorney suggested consolidating my funds into one account since my original bank is one that is known for freezing accounts during bankruptcy. So I finished consolidating the accounts after the filing now the original account is $500 less than it was and my main account is $500 more than what it was at filing. I was told as long as the accounts are in the trustee's possession it shouldn't pose a problem. But I wanted to get some feedback from someone who's went through the bankruptcy process before.

I haven't had my first Chapter 7 trustee meeting and am in the middle of converting to Chapter 13. Just want to be prepared in the event the trustee asks about the differences in accounts.

Thanks in advance.

[TheBajan]

As long as there is a paper trail there's no problem.

[cz3ch]

As long as there is a paper trail there's no problem.

Yes, I can verify where the funds came from and went to on my statements. I was just worried that the balances on the petition didn't match the current balance on each account.

Thanks for chiming in.

[btbeme]

Yes, I can verify where the funds came from and went to on my statements. I was just worried that the balances on the petition didn't match the current balance on each account.

Thanks for chiming in.

The current balance is of no concern.

What is important is being able to show or prove the balances of the accounts as reported on the day of your filing. That "snapshot" is the critical issue; what happens after in this case is not important.

[cz3ch]

The current balance is of no concern.

What is important is being able to show or prove the balances of the accounts as reported on the day of your filing. That "snapshot" is the critical issue; what happens after in this case is not important.

Gotcha, I think I'm ok then. Thanks again!