What happens after the BK is closed?

[PhillyGuy]

After the BK is officially closed by the judge, can the case be opened for any reason by a previous creditor or anyone else? How long after the BK can i actually start saving money in a savings account without someone coming after it?

Thanks

[doni49]

About the only way you'd have anything to worry about is if someone comes up with some kind of hard/indisputable evidence that you've committed BK fraud. As long as you know that's not the case, you're good to go.

[btbeme]

How long after the BK can i actually start saving money in a savings account without someone coming after it?

Thanks

Technically, the day after filing. That is, if you are 100% honest in your filing and 99% sure you will be discharged as "no assets."

However, as indicated above, there could be an inquisition if a thousands of dollars in cash were suddenly deposited in an account a few days after the filing or 341. See, some folks just can't help themselves, and they bury assets (usually cash) in an attempt to hide it from a Trustee. They then splash it into an account, or a fancy car, or something visible and traceable for all the world to see post-BK - and believe me, the Trustee would notice.

The Trustee can reopen the BK if they feel that there is reason to do so. If, however, like millions of other honest people, you find yourself with the means to actually place money into savings post-BK, then fill 'er up!

[PhillyGuy]

I have been discharged but waiting for asset distrubution of a check coming to me in the next few weeks. Also, not sure if the trustee is going to liquidate a painting i currenty have, only worth about $1200. When will i know about the painting, any ideas?

I am worried about two issues regarding the bank accounts and saving money. 1. I am worried my slimy ex business partner has my account numbers and will just walk into a bank and try to withdraw what ever i have in the account. 2. After this BK is closed, i will actually be in a position to save some money and do not want, again, the ex BP to be able to go back to the trustee and take what i have saved after the BK is officially closed.

And since i am on the topic, what happens if i receive money from a family member after the BK is closed to help me back on my feet?

[doni49]

I have been discharged but waiting for asset distrubution of a check coming to me in the next few weeks. Also, not sure if the trustee is going to liquidate a painting i currenty have, only worth about $1200. When will i know about the painting, any ideas?

Before starting the session, my Trustee stood up and announced to everyone that she "intends to abandon all property unless she told us otherwise". I walked out of there knowing that she was abandoning everything. There were a few people that she indicated that she was taking something. What did your trustee say?

I am worried about two issues regarding the bank accounts and saving money. 1. I am worried my slimy ex business partner has my account numbers and will just walk into a bank and try to withdraw what ever i have in the account. 2. After this BK is closed, i will actually be in a position to save some money and do not want, again, the ex BP to be able to go back to the trustee and take what i have saved after the BK is officially closed.

Assets earned after the filing date are yours and can not be taken. If it was money that was owed to you but you just hadn't received it yet (and you couldn't exempt it), then that was an asset that belonged to your estate. If it belonged to your estate and the trustee didn't abandon it, then it CAN be taken don't try and hide it.

And since i am on the topic, what happens if i receive money from a family member after the BK is closed to help me back on my feet?

That all depends on what your trustee has to say. If you were to inherit money, you're supposed to notify the trustee -- I'm not sure how long that requirement stands though. Plus if they give you a large chunk of money right after the case is closed and the trustee finds out, he'd likely assume the person was hiding the money for you.

[jst4f]

Once your BK is closed, it is closed. As mentioned earlier it can be reopened if the TT suspects fraud. Your ex-partner can make life difficult for you but no special deal can be made with the TT to take your new savings. Your ex-partner would have to accuse you of fraud, and if not true, he would be subject to civil actions by you. It would not be risk free for your ex-partner.

Now I want you to take a deep breath....in....out....in.....out. Relax. Change the bank account number you are concerned about. Start saving and go forth and enjoy your fresh start.

[LadyInTheRed]

Phillyguy, what makes you think your ex business partner will be able to just walk into the bank and withdraw money from your accounts? If you really think he is likely to do something criminal, maybe you should let your bank know about your concerns so they can put an alert on your accounts.

[PhillyGuy]

Phillyguy, what makes you think your ex business partner will be able to just walk into the bank and withdraw money from your accounts? If you really think he is likely to do something criminal, maybe you should let your bank know about your concerns so they can put an alert on your accounts.

Because if he has the account number, goes thru the drive-thru with a withdrawal slip, sometimes they do not ask for id.

But, with all the advice i have received from all you awesome users, i feel much better. At least i know not to worry about the accounts and the fact that if i start saving some money, they will not come after it.

THANK YOU EVERYONE!

[LadyInTheRed]

Because if he has the account number, goes thru the drive-thru with a withdrawal slip, sometimes they do not ask for id.

In that case, I'd switch banks anyway.