Something that has been bugging me...

[lotsahats]

When the thought of filing bk first entered my mind, I talked to my husband about it, and we, together, decided that it was a good idea. And, (at the risk of sounding like a broken record), since the debt is all mine (as well as this lovely auto accident suit I've been slapped with), there is no need for him to file--just me.

But, when I first defaulted on the credit card payments, we became nervous about our joint checking account, and thought it might be a good idea for him to open his own. Of course, having educated myself on the matter, I have since learned that our joint account would have probably been safe, because of my state's wildcard exemption, but, at the time, I was (and still am) a bankruptcy novice. So my husband opened his own account, and we've been using that it for everyday living ever since.

The thing that bugs me is, although the account is solely in his name, I do have full access to it. I have a debit card, and I can use the ATM. It might as well be a joint account. What will the trustee think of that? I don't want it to look like I'm hiding anything--I have nothing to hide. Will he want to see bank statements from my husband's new account? If so, I'd be happy to submit these. I'm just afraid of looking like I'm doing things underhandedly.

[AngelinaCatHub]

You don't have anything to worry about. You just stated the States rules, so the Trustee knows this. If the account is questioned at all, tell him what you told us here. You are ignorant of bk rules and he is not involved. You just wanted to protect your mate and that all the money in his account is his and used for his family expenses. Don't fret over problems non existent. That makes a problem happen that is not necessary. From my experience Trustees are not ogres. They listen and are human too. They do work for the Creditor but usually are not mean or suspicious. In the event of discoverer real fraud then they can be a lot of hell. You don't have a problem. 'Hub

[Drazil65]

We also have separate accts until this is over and only DH filed in December. Our 341 is coming up on the 17th and because I pay all the household bills through my account as I am the only one working at the moment (DH full time student on last semester, grad in May) our attorney had us include the last 2 months of my bank statements for the trustee to look at. The trustee has not requested them as of yet but our attorney said there is a 50/50 chance he would want to see them. Also, for us my husband has student loans each semester to help with the living expenses that my paycheck does not cover and DH deposits the check into his account but then transfers 80% of it to my account so I will have it for paying household expenses during this time. I do not have any access to his account as we did not want any connection, we knew there would never be much money there and only enough for his gas and personal items, a little spending cash. Just be transparent with everything you are doing, note it and have the supporting documentation to back you up. Good Luck!

[nsupanda]

How do you have full access to it and not be on the account? I ask this because I've been in banking for years and the only way someone can have a debit card or sign checks on someone's account is if they are ON the account or if they have power of attorney.

I have a similar case, I'm on my mother's checking account as a signer (so I could technically go withdraw everything in the account if I wanted to). However, I do not use the account at all, and none of the money in the account is mine. I still had to report this account to my attorney and to the trustee and the balance in it had to be counted for in my paperwork.