bank accounts...

[apie1]

What is the name of your state? IL

My cousin filed ch 7, no asset case, trustee agrees and is already posted under pacer as a no asset. Her lawyer yesterday called her because he needed information regarding a joint account she had with her mom. Her mom voluntarily took her off her account a couple of weeks prior to her filing for BK. Lawyer asked for her mom's name, the bank and the date her mom took her off the account. The lawyer stated its nothing to be concerned about, don't worry about it. If it wasn't a concern why would they need that information? Her mom barely has $3,500 in her account and her daughter's name was never on the mom's actual checks. Just the mom's name. Her daughter just has access as a authorized user to sign checks to pay bills and deposit and take money out for her mom. I am assuming they are looking for large transfers. To this day her mom still does not know how to use a ATM or how to write out a check (straight from the old country!). Anyone see this as a problem or no cause for concern?

P.S. what would be considered a large transfer if thats the case? there has only been one transfer since she was on her mom's account for 400.00 bucks that her mom gave her to pay a bill.

 

[zippysgoddess]

They just want to check and make sure that she isn't lying about the account, and trying to hide a large asset. They will contact the bank, and see who puts money in, and how much, and who is the primary account holder.

They have to check these things out because some people will try to file while having a large amount of money in the bank, they just try to hide it by removing their names from the account. If she was only an authorized user to help her mom, that will show on the information from the bank, so there should be nothing to worry about.

 

[apie1]

Is being a authorized user and joint holder on the account the same though? that is what the bank mentioned. Or is that pretty much why they look into whos a primary, who puts money in, etc. There are times that her mom will ask her to take a certain amount of money out and then she will deposit it back the rest back for her mom. Will the trustee will be able to clarify that? I mean she can't access the account unless my cousin uses her own name on the deposit slips. I think my cousin is afraid that if she deposits any form of money into her moms account for her mom, they may think that it is her money and not her mom's money.