Joint Bank Account - Chapter 7

What is the name of your state? MA

I have a joint checking account with my fiance. He has his wages direct deposited in there as do I.

He has his bills and I have mine - all of which are paid out of there.

Will this be a problem with the trustee in a Chapter 7 bankruptcy?

Originally Posted by Lookingahead

What is the name of your state? MA

I have a joint checking account with my fiance. He has his wages direct deposited in there as do I.

He has his bills and I have mine - all of which are paid out of there.

Will this be a problem with the trustee in a Chapter 7 bankruptcy?

When I got ready to file bankruptcy, I was already married and filing as an individual (my husband was not part of the filing). We had a joint account where he had his paycheck direct deposited. Prior to filing, I had him open a separate bank account to which his check is now deposited. That separated out our monies as my understanding was that anything over $400 ($800 in a case where there were two account owners) could be attached by the trustee.

My attorney had me stop my direct deposit as well. I just got checks for a few months that I would cash and dole out the money for things such as food, rent, and gasoline throughout the month. The issue was that at any one time, I couldn't have more than $400 in my account.

My suggestion would be for you to have your fiance open his own account and run all his money separately through there. If you need a check for over $400, you can get money orders or cashiers checks for whatever amount you need through your bank.