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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.

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โˆ™ 2005-10-21 03:30:38
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Q: How soon can you put money in a checking-savings account after a bankruptcy discharge?
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Can the court take money from a savings account that was openeded after the discharge of a chapter 7 bankruptcy?

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

Can you discharge your car in bankruptcy?

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

When filing bankruptcy in Calif is it possible to keep a small savings account for emergencies?

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.

Can you take money out of your 401k after you file bankruptcy?

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.

If a collection agency freezes your bank account and on the next day you file for bankruptcy can they still freeze your money?

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.

What can happen if you don't notify the trustee of inherited money after bankruptcy?

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.

Are you responsible for any end of lease payments at the end of a lease during which you filed for bankruptcy since no money can be demanded from you?

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.

If you file for bankruptcy then shortly after you come into a decent sum of money can creditors go after that money?

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.

Can a bank take your deposits out of your account after you have filed for bankruptcy?

no because you have no money idiot

If you receive a large sum of money before your chapter 7 bankruptcy discharge does it need to be reported?

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.

Can you transfer money from a savings to a retirement account and file bankruptcy?

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.

Can the state of Texas make you pay money that they claim you owe if this money was included in the bankruptcy 13 if they did not file an objection and the discharge was granted?

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

How long after receiving a discharge do you have to not report a windfall of income such as winning the lottery or a large inheritance?

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.

Do you have to justify using money in your bank account?

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.

Is better for you to get your money after your bankruptcy is off your record like ten years down the road?

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.

If your wages were garnished and your employer is holding the money in an account how do you get the money released to you after bankruptcy has been awarded?

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.

Should the balance of a creditor you filed chapter 7 on show zero on your credit report after it has been discharged?

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.

Chapter 7 discharged bankrupcya cousin is now trying to take you to court for money that you borrowed a year before you filed for bankruptcy are you protected under the bankruptcy?

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.

Who can apply for a money market checking account?

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.

If your are waiting for a discharge of a chapter 7 can the court take your Governments stimilus package money that is coming?

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

If you settled out of court on a small claims and then the defendant filed bankruptcy can you still get your money?

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.

How can you file a bankruptcy and not lose any money in the bank?

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.

How do you prevent losing money in a joint bank account when one person is filing Chapter 7 bankruptcy and the other is not?

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

If someone files for bankruptcy can the Credit Card company take money out of your checking account to try and retrieve some of the debt after they were informed you were filing bankruptcy?

No, once a bankruptcy is filed an automatic "stay" is in place, and creditors cannot pursue any collection action. Even outside of bankruptcy, a creditor cannot arbitrarily garnish a debtor's bank account. The creditor needs to file and win a lawsuit, be granted a judgment and then enforce the judgment as a bank account garnishment.

Can you file personal bankruptcy and keep your license to practice law?

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.