Atty wants last three months of checking statements

[cyn5]

After several months of not doing anything, we are back seeking out attorneys to file bk. The one we like wants our last 3 mos of checking statements. I do believe they are just making sure don't have additional income or something like that. What are others thoughts on this? Do most attorneys ask for 3 mos of statements? I had a couple say they only needed one, so I am a little confused. Also it is embarassing because I really screwed up our account last month and had a lot of overdraft fees (what can I say...I probably shouldn't even have a checking account!).

Also, it has been a while - when you file, you just give the court your last checking statement, correct?

[forgotten]

Also, it has been a while - when you file, you just give the court your last checking statement, correct?

YMMV, my district requires the last 6 months of statements from all accounts.
Don't worry about the overdrafts... lets be honest, you are filing bankruptcy, it is no time to be worried about how you look at managing finances.

[AngelinaCat]

This is not unusual. We had to give six months of pay stubs, pay statements, and anything else for the prior six months to our projected filing date. This date kept moving for various reasons, so we had to keep re-submitting these documents.

They also will want your past six months or so of your checking account ledger, and probably the last two years of your Income Tax statements, and State Income Tax statements, if any.

Good luck!

[systemslt]

they want this info because the trustee will demand it. and your lawyer needs to know what the trustee will see so they can help your case

[AngelinaCat]

they want this info because the trustee will demand it. and your lawyer needs to know what the trustee will see so they can help your case

To clarify the above: You need to give all this info to YOUR attorney, to help him/her prepare your case. Your attorney is working for YOU, the debtor. Your trustee is working for your CREDITORS, not you.

[cyn5]

Thanks guys! It has been so long, I sort of forgot about why the whole checking acct statements is needed. I also just found out that when we file, we give one month's statement & keep the others on file in case the trustee requests them:-) Yeah...I really shouldn't have a checking acct! Instead of paying the small charges first, my bank pays the biggest and then applies more overdraft charges and I really messed up last month and I hate looking at all those fees! Ugh.

[DeadManCrawling]

Cyn,

Don't worry about giving these to the attorney. They are on your side and nothing you can show them will cause any issue or should embarrass you. Your attorney is simply looking for things that may need to be explained to a trustee, so they can discuss them with you first and have the proper answers.

As far as the overdraft fees--ALL banks do what yours has done. They ALL process the big amounts first so they can charge you multiple times on the small checks. This shoudl be illegal, and may be under the new law, I am not sure. But, they all do it.

For Bank Of America, their fiscal year 2009 had a good size profit, I think 40% of ALL profit, because of this single practice. It should be criminal, in fact, but it persists. The only shame in it belongs to the bankers who perpetrate this evil on the rest of us.

[Flamingo]

After several months of not doing anything, we are back seeking out attorneys to file bk. The one we like wants our last 3 mos of checking statements. I do believe they are just making sure don't have additional income or something like that. What are others thoughts on this? Do most attorneys ask for 3 mos of statements? I had a couple say they only needed one, so I am a little confused. Also it is embarassing because I really screwed up our account last month and had a lot of overdraft fees (what can I say...I probably shouldn't even have a checking account!).

Also, it has been a while - when you file, you just give the court your last checking statement, correct?

Consider yourself lucky - we had to provide one year...

[wantout]

My attorney wanted six months of statements, the TT only wanted the previous 90 days from the filing date...

[nickifan]

My attorney wanted six months of statements, the TT only wanted the previous 90 days from the filing date...

Just curious...the trustee asked to see these at the 341, or asked your attorney for them in advance, or what?

[frogger]

We had to provide 6 months of everything.

[wantout]

Just curious...the trustee asked to see these at the 341, or asked your attorney for them in advance, or what?

The TT asked for them when I filed, I recieved a letter from the TT with a list of what he wanted to see before the 341.

[nc73]

We had to provide 6 months of everything.

Mine wants 7 months of everything f'ing thing. Completed BS. What is another month to them?

[kornellred]

nc73 - the trend must be to look even further back in the past than 6 months - since so many filers are preparing in advance for eventual bankruptcy, there is ample opportunity for asset transference and other blatant violations of the bankruptcy rules that disappear in the mists of time.

[fireworks]

Our attorney asked for 1 year. Apparently the basic trustee requirements are less, but after hearing the facts of the case (self-employed, multiple businesses) he said the trustee would likely ask for it and he wanted them on file so he could answer the request without waiting on us to gather paperwork.

As far as the overdraft fees--ALL banks do what yours has done. They ALL process the big amounts first so they can charge you multiple times on the small checks. This shoudl be illegal, and may be under the new law, I am not sure. But, they all do it.

I have accounts at both a small local bank and a credit union. The bank does exactly as you describe - large payments first, which maximizes the potential overdraft fees. However, I can log in to my online banking during the day and see what my "available" balance is. If it's going to cause overdrafts I can make a deposit before 3 or an online transfer before 5 and avoid the overdraft.

The credit union on the other hand processes transactions as they come in throughout the day regardless of the amount. Overdraft fees happen immediately if the account balance goes under. I read somewhere that one of the big banks (Chase maybe?) was switching to a similar system.