Things Not to Do

[HopefulInOhio]

Before filing bankruptcy, is there an idea of what NOT to do right before? I know about waiting 90 days for a charge and 70 days for a cash advance.

If you switch banks, is that gonna be an issue?

I guess I'm looking for what a trustee or court..or creditors - gonna look for about you that they could not allow the bankruptcy to go thru?

Is there anything I should be collecting other than CC statements, bank statements...I've been saving my gas receipts due to my job having me travel so much..household expenses...I'll have all my receipts from my move in 2 weeks....

I'm just wanting to know if there's something out there that would blackmark a bankruptcy from not going thru....?

Thanks!

[toomuch]

Before filing bankruptcy, is there an idea of what NOT to do right before? I know about waiting 90 days for a charge and 70 days for a cash advance.

If you switch banks, is that gonna be an issue?

I guess I'm looking for what a trustee or court..or creditors - gonna look for about you that they could not allow the bankruptcy to go thru?

Is there anything I should be collecting other than CC statements, bank statements...I've been saving my gas receipts due to my job having me travel so much..household expenses...I'll have all my receipts from my move in 2 weeks....

I'm just wanting to know if there's something out there that would blackmark a bankruptcy from not going thru....?

Thanks!

Good question and one I will be waiting for answers to as well.

[CATCHMEIFYOUCAN]

Hi

Before filing bankruptcy, is there an idea of what NOT to do right before? I know about waiting 90 days for a charge and 70 days for a cash advance.
If you switch banks, is that gonna be an issue?
Nope .. If you have loans/credit cards along with checking/savings accounts you currently bank at, than stop using the accounts and open a new account at a different bank, especially if its a credit union. They will use their "cross collateral," trick on you and whatever you might owe them they will just take it right from your checking/savings ..
I guess I'm looking for what a trustee or court..or creditors - gonna look for about you that they could not allow the bankruptcy to go thru?
Is there anything I should be collecting other than CC statements, bank statements you'll need copies of your tax files from at least 2 years back and bank statements of at least 1-2 monnths back ...I've been saving my gas receipts due to my job having me travel so much..household expenses...I'll have all my receipts from my move in 2 weeks....
It's a good idea that you already started saving your "spending," receipts since you may go over the IRS standards, I would save food receipts too since you mentioned you travel.
I'm just wanting to know if there's something out there that would blackmark a bankruptcy from not going thru....?
FRAUD .. hiding assets ..

Best wishes, catchmeifyoucan

[toomuch]

Before filing bankruptcy, is there an idea of what NOT to do right before? I know about waiting 90 days for a charge and 70 days for a cash advance.
If you switch banks, is that gonna be an issue?
Nope .. If you have loans/credit cards along with checking/savings accounts you currently bank at, than stop using the accounts and open a new account at a different bank, especially if its a credit union. They will use their "cross collateral," trick on you and whatever you might owe them they will just take it right from your checking/savings ..
I guess I'm looking for what a trustee or court..or creditors - gonna look for about you that they could not allow the bankruptcy to go thru?
Is there anything I should be collecting other than CC statements, bank statements you'll need copies of your tax files from at least 2 years back and bank statements of at least 1-2 monnths back ...I've been saving my gas receipts due to my job having me travel so much..household expenses...I'll have all my receipts from my move in 2 weeks....
It's a good idea that you already started saving your "spending," receipts since you may go over the IRS standards, I would save food receipts too since you mentioned you travel.
I'm just wanting to know if there's something out there that would blackmark a bankruptcy from not going thru....?
FRAUD .. hiding assets ..

Best wishes, catchmeifyoucan

Sorry, don't mean to hijack this thread but I have a couple of questions to Catchme's response.

Should we just stop using the old account or close it altogether?

Should we be saving proof of everything we spend now, even food?

Thanks,

Toomuch

[lrprn]

Should we just stop using the old account or close it altogether?

Our lawyer recommended leaving our old checking account open but leave only $5-10 in it. Closing accounts close to filing can raise a trustee's suspicions.

Should we be saving proof of everything we spend now, even food?

It's not required, especially if your income is below the median for your state. However, it can be very helpful to know just where your money is going and having those figures at hand provides figures for the required pre-filing credit counseling and (if your income is over the state median), also provides figures needed to complete the second part of the Means Test.

[jbr12]

Re the 70 day cash advance rule... does that apply to Cash Advance Loans? I mean, if I get one of those payday loans and pay it back before I file, will that look bad in my case? Is that something that would even show up to a trustee at all?

[bige1030]

Re the 70 day cash advance rule... does that apply to Cash Advance Loans? I mean, if I get one of those payday loans and pay it back before I file, will that look bad in my case? Is that something that would even show up to a trustee at all?

If you got the loan and paid it back before filing, you wouldn't owe the debt anymore.

You wouldn't have to list it anywhere on your bankruptcy unless you paid over $600 to that creditor within the 90 days before filing - such is a preference, and the trustee can recover it from the creditor. This is done to be fair to all creditors, rather than the ones who you like or the ones who press you the hardest to pay.

[CATCHMEIFYOUCAN]

The credit unions wouldn't let me close my accounts because I had loans and cc's tied to them, so i just left the minimum (like $5) and stopped using them. Eventually they denied access to my accounts altogether. I had direct deposits going into those accounts, which of course I redirected before I they could get any "extra money."
IRPN is right .. "Our lawyer recommended leaving our old checking account open but leave only $5-10 in it. Closing accounts close to filing can raise a trustee's suspicions."
I never raised the trustee's suspicions by having a new account open, afterall he saw my bank statements, and all that was on their was money transferred out paying the loan/cc's off, which I don't understand about "preferential treatment," because I was paying the creditors up until the time I filed!

Hope things are working out! Catchmeifyoucan