Bank balance?

[momxx5]

Is there any effect as to your actual bank balance the day of filing?

I was wondering because I thought I saw it somewhere and now I can't seem to find any info about it.

We had to wait until payday so we can play atty and then pay the rest of the bills, so I was wondering if the bank balance matters.



Also, I am trying to close an account with a different bank. We banked with them for over 10 yrs and they are just not what they used to be. While I was trying to get the account to close they paid some outstanding checks and it caused an overdraft. I could handle that part at first but now they have been charging overdraft fees over & over again while returning everything. I had contact the cc companies that we on direct withdrawal to tell them the bank account is closed but the cc companies still put through the debits. Is a rotten cycle. I calculated that I owe the bank around $500 and there is over $1,000 in fees.
Any ideas on how to get the bank to listen?

[AngelinaCatHub]

Write them a certified letter that upon such and such a date you requested the account closed. Cease and desist passing paper across your account as upon that date, you rescinded all authority to auto draft and that you disown any NSF charges that are not your fault.

Also, about the other bank balance, you need not worry as they will not check that balance and you have worthy explanations for anything spent. ‘Hub

[StartingOver08]

In our district they do check the bank balance as of the filing date. I had to bring the statement that included my filing date to the 341 to show that I only had $100 in the account.

Fl's exemptions are small. I don't know which state you are in - but check with your attorney to see what they recommend on the date of filing. Here we could have no outstanding checks because the trustee takes all the funds above what we put on the petition. So I had to pay the attorney fees by cashiers check and I paid the IRS via cashiers check (both allowed expenses). Left $100 in the account.

Each district seems to vary in how they handle this (and other) aspects of BK. Remember the Trustee is looking for assets and your bank account is fair game on the filing date.

[Flowers]

Since I was living on fumes, and when my attorney asked me, I told her $0. Seriously, that is what it was, sometimes it's in the negative red with all the bounced fees. She thought for a moment and wrote down $20.
Either way, it is sad and honest. If you are like me and had to wait til you had the funds to pay the lawyer for BK, you might want to put a nominal amount as well.

[Ifonly]

I just went thru this when closing my BofA account. You, as the account holder, can not stop auto debits from your account by instructing the bank to do so. And they will keep the account active for 30 days after you "close" it for just such a reason.

You have to withdraw authorization from the payee to access your bank account. Did you contact the cc in writing to cease removing funds from that bank account? If so, you need to tell them to return it as they did not have authorization and if they won't, file a fraud claim with the bank.

I only had this happen with one payee and it was a nightmare to straighten out. The payee returned the money and the bank reversed the OD fees but only because I had the faxed copy instructing the payee to change the bank account for direct debit.

Hope this helps....