I am in the process of filing Chapter 7, and I have a few questions regarding bank accounts --
1. I have joint bank accounts with my ex, of which the bank I owe money to -- with my name removed from the account and with my ex being the only account holder, will the bank still have the right to take the money from the checking to pay the credit debt?
2. Regarding the same accounts, when is the good time to have my name removed from the account. Should I keep the status quo until I receive the discharge paper?
3. For the bank account that I am the sole account holder, of which the bank I owe money to, if I leave it open, at what point after the filing , it's safe to deposit money into the account again, or is it best not to use it at all even after the case is closed?
4. Is it wise to talk to the bank about their policy on bankruptcy? If so, when is the good time to do so?
5. In MA, what is the limit to the amount of exempt funds that may be accumulated before they lose protection in my bank account while filing bankruptcy?
6. Does this limit, if there is one, only apply on the day of filing or throughout the process, that is, from the filing day to the 341 meeting to the discharge day?
7. Does this limit , if there is one, still apply after the case is closed, i.e. when the discharge order is issued?
8.Can a trustee lawfully exmine my financial records after the case is closed?
9. Somewhere in the forum, it is mentioned that any transfer within a year of filing bankrupcty will cause a trustee's attention--- is it prior to or after the filing?
10. In the process of filing, can I start paying my overdue tuitions and taxes that are not dischargeable?
Your help is greatly appreciated.
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Editor's Response
It is very good that you considering all of these issues before filing bankruptcy, and you can find some of the answers in our MA Bankruptcy Discussion Forum. However, it would be silly for me (or any other attorney) to try to answer all of your questions without sitting down with you, talking about the specifics of your situation, and trying to come up with a plan regarding which type of bankruptcy (if any) is best for you. This forum is more appropriate for people who have a single, simple question about bankruptcy. I encourage you to contact a Massachusetts bankruptcy attorney and take advantage of the free initial consultation most offer. Good luck.