Commercial Bank and Checking Accounts

How soon can you put money in a checking-savings account after a bankruptcy discharge?

737475

Top Answer
User Avatar
Wiki User
2005-10-21 03:30:38
2005-10-21 03:30:38

What is on your credit report has no bearing on opening a bank account. What is important is any reporting on Telecheck which would show whether or not you have any fees owed to a banking institution or owe a merchant any because because you had written any checks that has not cleared.

1
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0

Related Questions

User Avatar

No, Once you have a discharge its like starting over. dicharge mean its done. No other actions will take place.

User Avatar

You can't discharge a car or any other asset. You can only discharge a debt (money owed).

User Avatar

Yes, but not until your discharge. If you take money out of a 401K after you file and before discharge, the money is no longer exempt and could be taken by the Trustee. If you take it out after your discharge the money is yours.

User Avatar

ALL money, including CASH HAS to be reported to the bankruptcy court. If you are dishonest in anyway, it can compromise your ability to receive a discharge. It's fraud. AFTER you file bankruptcy, you certainly can start a small savings account; but, not prior. Any money prior would probably be taken to pay creditors by the trustee.

User Avatar

A collection agency, or any party, can only freeze your bank account IF they have sued your first and won a judgment against you. If you file for bankruptcy, it will not immediately release the levy on the account. The court that rendered the judgment must be notified of the bankruptcy filing, as well as the judgment creditor. The account could remain frozen until the outcome of your bankruptcy. If your bankruptcy, and the judgment debt is discharged, then the bank account must be released. It is possible to release a levy before discharge, but it will usually require the bankruptcy attorney to do it.

User Avatar

Nothing, or your bankruptcy discharge can be reversed, or you can be fined or sent to prison. It depends on how much you inherit and how long after the bankruptcy you inherited it.

User Avatar

If the matter in question was included in the bankruptcy discharge, you may not have to pay it. If it was left out, or the property owner was allowed to opt out of the bankruptcy discharge the debt is collectable.

User Avatar

The money might be included in the bankruptcy even is a discharged has occurred. The time between the discharge and the receiving of the money would be the deciding factor. If the bankruptcy has not yet been discharged the money might be included in the procedure as assets, unless it held exemption status.

User Avatar

Yes, even for 6 months after discharge. Depending on the source of the money, the trustee may have no way to take it, but not reporting it will leave you open to challenge later on. Ask your lawyer or get an experienced bankruptcy lawyer.

User Avatar

Sure. But expect the trustee to want that money, unless the amount in the savings account was exempt. Transfers of assets otherwise available to the bankrupt estate for the purpose of filing bankruptcy is a federal crime. Consult an experienced bankruptcy lawyer, since there are permitted transfers.

User Avatar

If you had money available to you when you filed bankruptcy and failed to disclose that in your Schedules, you committed fraud and perjury, and are liable to have your bankruptcy discharge reversed, not to mention possibly going to federal prison. If you inherited or won a lottery withing 6 months of the close of your case, you had an obligation to disclose it and give the money to the trustee. Failing to do so will leave your bankruptcy discharge open to being reversed as well as leaving you open to penalties. Otherwise, there is no reason to wait any amount of time. Consult an experienced bankruptcy lawyer in your area.

User Avatar

That depends on the nature of the debt and whether or not the debt was dischargeable even under the Ch 13 'super' discharge.

User Avatar

You do not have to justify using money in your bank account unless you are in the middle of a bankruptcy and someone is overseeing what you are doing. There are few occasions where you have to divulge this type of information.

User Avatar

180 days from the date of the discharge. I believe it is 180 days from filing rather than from discharge. If you filed a chapter 7 and received the inheritance or the right to the inheritance within 180 days of filing, then the money should come into the bankruptcy estate. If you already received your discharge, then the trustee may move to reopen your case and bring a proceeding to get the money. However, Trustees, sometimes, try to bring money into the bankruptcy estate that they don't have the legal right to. Lottery proceeds based on a lottery ticket purchased after you filed bankruptcy are not part of the estate, but trustees have been known to go after the money anyway.

User Avatar

The back wages will not be released to the employee until the bankruptcy is discharged and the employer is notified by the court that the arrearages have been exempted from seizure.

User Avatar

Yes, just as they can take money from a tax return during the year you filed for bankruptcy.

User Avatar

Most people who have not previously declared bankruptcy are able to apply for a money market checking account. It is important to remember that these accounts often require a minimum account balance, which can range from $1,000 to $25,000.

User Avatar

No. Bankruptcy discharge does not mean the money isn't owed. It means that creditors cannot attempt to collect it. The money will always be owed. Accounts included in bankruptcy will stay on the cr marked included in bankruptcy, for the full seven years.

User Avatar

If you included it in your bankruptcy, you're protected by the discharge. If you didn't and you're already discharged from Chapter 7, you may not be protected. I suggest you discuss this with your bankruptcy lawyer.

User Avatar

I suppose you could, but even if you did manage to get the financing together to open another business, any profits from it would be subject to seizure by the court and the bankruptcy trustee to pay off the bankruptcy judgement. There is no bankruptcy "judgment." If the bankruptcy is over and you have your discharge, you can open a business, and any money you make is yours. Providing the first bankuptcy is discharged.

User Avatar

No. There are a few exceptions to discharge, so you would have to ask a bankruptcy attorney regarding your specific facts, but probably not in a small claims case that was settled.

User Avatar

Why are you filing bankruptcy if you have money in the bank? You are entitled to exemptions, which may include some money in a bank account. The amount you may exempt will depend on whether your state has its own exemptions or allows you to use the federal exemptions.

User Avatar

You don't, if you want to keep your money, don't share you account with some who won't take care of it.

User Avatar

Yes. You can even get a discharge and keep your license to practice. The exception would be if you owe a client money that was in an IOLTA account (for unearned retainers and funds held in trust to complete some transaction). That would lead to sanctions.


Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.