bank account balance
How much do they allow you to have in your checking acct at the end of the month? this varries with me .one month i may spenf more at the market and so on .
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varies from state to state and from county to countyOriginally posted by tabasko View PostFiled chapter 7 on 9/17
341 on 10/20
Chapter 7 Trustee's Report of No Distribution on 10/21
Discharged and Case Closed on 12/21/2010
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Can't recall it ever being monitored as to what someone has in the bank at the end of the month.
What is significant is what you have/own as of the filing date. On that date, your BK estate is created and anything (including cash and account funds) that cannot be covered by your state exemptions (or federal exemptions if you have that option) can be taken by the trustee to pay your creditors.
So if you give someone a $1000 rent check on the 1st, file on the 2nd and that check has not yet cleared your account, that $1000 is part of the BK estate. Doesn't matter that its meant to pay rent. If you can't exempt it, you have a problem.
To avoid that sort of situation: file at a time in the month when you do not have excess funds. Such as midway between paydays. And for the week or two before filing, don't write checks. Pay for things in a way so that amount is automatically transferred... Debit, paying in cash, buying a money order and tendering it...Get mortgage modified: DONE! 7 months of back interest payments amortized, payment reduced over $200/mo
(In the 'planning' stage, to file ch. 13 if/when we have to.)Comment
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