get cash out of bank w/out raising eyebrows?

[LadyInTheRed]

I had 12000 in my bank account . I disclosed this amount in my BK . Told my lawyer to protect it and Filed BK, it still remains in my bank after Discharge.

We are fortunate in California to have a rather generous wild card exemption that we can use to exempt cash. Many (maybe even most) states don't have a way to exempt large amounts of cash.

[backtoschool]

I had 12000 in my bank account . I disclosed this amount in my BK . Told my lawyer to protect it and Filed BK, it still remains in my bank after Discharge.

Your attorney would have had to use a wild card exemption to exempt this in order for you to keep it.

[tobee43]

I had 12000 in my bank account . I disclosed this amount in my BK . Told my lawyer to protect it and Filed BK, it still remains in my bank after Discharge.

good atty! nice to know there is at least one out there some where.

[Wantmypeace]

But, was the money locked up during the bk process, or were you allowed to use it? I'm curious because we are in a similar position, saving our mortgage payments, and planning to exempt the cash (around 15K by the time we file). Will it be locked up in an account, or will we be allowed to use it during the BK? One reason we're saving it is to replace the car we'll be giving back after we file, so at some point most likely before the discharge (because I'm sure the car loan people will want it right away), we'll need to take some of that 15K to buy a "new" used car...

[RichM]

These are questions that probably should go to your attorney, for better or worse.

That being said, some things will almost always be acceptable, such as pre-paying the rent and electric bill, stocking up on groceries, doing necessary auto maintenance, and taking care of other necessities a few months ahead of time. This can be justified as prudence in the face of economic uncertainty.

In my case, being self-employed, I got a few big payments that I used in this way. I was prepared to explain to the trustee that I have no guaranteed income, so I like to cover the essentials of life in case of a few slow months in a row. But he didn't even bat an eye.

-Rich