Checking Acount Balance

[2ply]

I am starting bankruptcy filing, chapter 7, our lawyor advised us to make sure our checking accout has no more than a $50 balance. Which is no problem after paying all of our loans and bills. I guess my question is instead of deposting our checks should we cash them and pay bill with money orders? My husbands check is direct deposit, should we withdraw and pay with money orders? Why is this? We are filling out our form with monthly expenses and it shows that we are broke at the end of the month is this not good enough. I mean we are broke, put on pay day our checking accout looks good, but after all the bills its all gone. I'm starting to ramble. Thank you for any info.

 

[Ladynred]

There's only a certain amount of cash that can be exempted in most states. If your checking shows that you have MORE cash than can be exempted, then the Trustee could try to take it from you. While Trustees do know that people have bills to pay and direct deposit is common, some are hardnosed. Do as your lawyer says, you don't want the balance in your checking to be any higher than $50 on the day your case gets filed. Ask your lawyer to time the filing of your case for AFTER all your bills are paid.