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  #1  
Old 11-26-2005, 11:11 AM
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Is This True???

What is the name of your state? IL

Under the old law, is it true that you cannot use your personel bank account while under bankrupcty? Cousin filed ch 7 no asset case. Her lawyer put her bank account in the matrix and at her 341 meeting it was never brought up. She has automatic deposit for her checking account from her job. She has been using her checking account. Lawyer never mentioned that she could not use her bank account...
  #2  
Old 11-26-2005, 12:00 PM
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  #3  
Old 11-26-2005, 03:26 PM
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There is nothing tp prevent her from using her bank account.
  #4  
Old 11-26-2005, 05:14 PM
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Quote:
Originally Posted by apie1
What is the name of your state? IL

Under the old law, is it true that you cannot use your personel bank account while under bankrupcty?
No that is not true...
  #5  
Old 11-27-2005, 02:09 AM
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Most states require that you only have a maximum amount in your combined accounts(checking and savings) ON THE DAY YOU FILE.

I know for AZ, it is $150 under the old BK 7 laws... That means that both the checking and savings cannot be over $150 together on the day the BK is filed with the court...

Anytime after that, you are free to use the account and deposit what you need into it...

Ask your BK attorney he should know. If he doesn't, get a better BK attorney...
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  #6  
Old 11-27-2005, 08:10 AM
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thanks for the response guys. The lawyer is acutally out of the office on the weekends. Anybody know where I could look to see what the maximum is for the amount that should be in your account the day a person files (under the old law) in the state of Illinois? I've looked for the old laws via internet but can't seem to find anything...
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