Re: Re: Re: chapter 7 It's a bank account, not a debt. It's an asset that must be considered in determining whether to grant a BK, what assets there are that could be used to pay debt, etc. One note--there is no such thing as a authorized user on a bank account. She would be a joint owner if they had both names on the account. I suspect that's the case, or the bank wouldn't (shouldn't) be giving her any information. If both names are on the account, in almost every state (probably every one, but I guess there could be an exception), both people jointly own the money. If she doesn't use this account, I suggest she get her name off. If bad checks are written and she's a joint owner, she can be liable for the debt.
Re: Re: Re: chapter 7 Well she got the statement from the joint account she has with him and her name is no where on it just his, the lady said she is an authorized user.Meaning she can call and ask question but his info needs to give at all times only.Meaning his name and social security number. She also has said when she called to talk to reps they ask for his info then see if they are allowed to talk to her. All statements that come to the house only come in his name.Her name is never on it and that was like that before they split.I would think a joint account would show both knows.
Re: Re: Re: Re: chapter 7 I was just writing nobody thinks this post is important enough because lbrown kept asking the same question and noone answered. I was not trying to be smart or anything.I am glad for all the anwers I have recieved.
Re: Re: Re: Re: Re: chapter 7 And my Q still hasn't been answered . Are there any restrictions what they can demand or is the sky the limit.?????????.?.?
Re: Re: Re: Re: Re: Re: chapter 7 The only limits the trustee has is that he cannot take your exempt property. There are 3 districts in Louisiana. In one district, you can keep almost anything thats not worth more than a couple thousand. In another, they will administer a broken weed eater. Bank statements are highly relevant to your bankruptcy filing because in almost all states, the funds on deposit is not exempt. Trustees can ask for all insurance policies - most people who have boats have riders on their homeowner's insurance. Anything that might disclose what kind of property you have is fair game. Bankruptcy is not designed to screw all your creditors. People have a hard time understanding that in theory you are supposed to give the trustee ALL non-exempt property in exchange for a discharge.
1*she has one that the bank closed for alot of nsfs .It was closed months before she filed. 2*she has one with her soon to be ex.The one with her husband is in his name with her on as a authorized user? ====================== 1*Once an account is closed there isn't any account so she don't have one. 2*This is not hers either. Why would she be responsable to provide them with something that she don't have or own?
Re: Re: Re: Re: Re: Re: Re: chapter 7 1*The only limits the trustee has is that he cannot take your exempt property. 2*Bank statements are highly relevant to your bankruptcy filing because in almost all states, the funds on deposit is not exempt. Originally posted by rocket1977 ================================ 1*I take it that your property means your possessions not someone else's. 2*Wouldn't this only apply to accounts belong to you? What I'm trying to get across is they are demanding she provide them with information on something that isn't hers. But no body seems to be catching on.
Re: Re: Re: Re: Re: Re: Re: Re: chapter 7 The bankruptcy trustee can take anything that is not exempt, that a debtor has any interest in, and sell it. Like I said before, she either did not report having that ASSET, or she underreported the amount of money in the account. There is no other reason to object to producing bank statements.
Re: Re: Re: Re: Re: Re: Re: Re: chapter 7 Sister went to court and produce both and the provided proof from the bank with her ex that the account only belong to him and not her but she had access to it. Oh Rocket1977 they both WERE BIG FAT NEGATIVE ACCOUNTS ON THE DAY SHE FILED AND THEY ONE SHE HAD ONLY IN HER NAME STILL IS AND THE ONE WITH HER EX IS ALSO.. So again what ASSET is she trying to hide???I only wanted to know did she need to bring his because again her name was nowhere on it.
Re: Re: Re: Re: Re: Re: Re: Re: Re: chapter 7 If they are BOTH in the red why object to bringing the documents. You have to understand I am used to people who say "what if I do not claim that I have that." A lot of people walk out f my office because I won't help them lie. I prefer it that way.
: Re: Re: chapter 7 ****************************************************** NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ******************************************************* > Re: chapter 7 ~~~~~~Jul 2002 66.119.33.135 | 07.11.2004 @ 22:36 quote: -------------------------------------------------------------------------------- Originally posted by teesha Sis went to court and produced both and she provided proof from the bank with her ex that the account only belong to him and not her . Oh Rocket1977 they both WERE BIG FAT NEGATIVE ACCOUNTS ON THE DAY SHE FILED AND THE ONE SHE HAD ONLY IN HER NAME STILL IS AND THE ONE WITH HER EX IS ALSO.. Again what ASSET is she trying to hide??? I only wanted to know Why did she need to bring his because again her name was nowhere on it. -------------------------------------------------------------------------------- 1*If they are BOTH in the red why object to bringing the documents. 2*You have to understand I am used to people who say "what if I do not claim that I have that." A lot of people walk out f my office because I won't help them lie. I prefer it that way. rocket ======================= 1*Because she is not the owner of either of the accounts noted. 2*You said in an earlier post the trustee has the right to demand any thing the filer owns. Since the filer is not the owner of the property in question the trustee is overstepping his bounds
Re: : Re: Re: chapter 7 You do not have to own something out right. If you have ANY INTEREST in an asset, the trustee can ask for it. What is so hard to understand about that?!?!?! Please inform me?
Re: Re: Re: : Re: Re: chapter 7 If you are married to someone, then chances are you have some interest in the account, no matter how small.
Re: Re: Re: Re: Re: Re: Re: Re: chapter 7 I know what you are asking. The reason that the trustee wants it, besides looking for assets, and why she should provide it is the fact that her name WAS on the account..that means that all the NSF fees were her responsibility as well as the boyfriends. There isn't an "authorized user" when it comes to a bank account, there is a joint account holder, meaning that if there were actually a positive balance it would be considered an asset, or at least in part since there is another name on the account. I think the confusion is the misuse of "authorized user" for a bank account which appears to have been a checking account if there are NSF fees. Another reason for the trustee asking, since the account is in the hole, is that he or she wants to make sure that some kind of fraud wasn't involved in the overdrafts. If there were, then the account could not be discharged in bankruptcy.
Re: Re: Re: Re: Re: Re: Re: Re: chapter 7 My sister did not file on the bank accounts on her bk and the bank that was just her name had been negative since Jan. and still is, due to her lawyer saying not to pay anything and the one with her Husband they say she is not obligated to pay it because he added her on as person to be able to call and ask qusetion and make deposit because he works out of time. Her name does not even show up on the statements. So that is why she did not know if she needed to bribg it because nowhere on this joint acoount is her NAME..
Re: Re: Re: Re: Re: Re: Re: Re: Re: chapter 7 To me that makes no sense.......... "nowhere on this joint account is her name?!!?" Is it either joint or its not. P.S. I refuse to believe any bankruptcy lawyer would advise a client not to add overdrafts in the bankruptcy.
The trustee could also be looking for fraud. If she were to transfer a large amount of cash in the recent months, this can cause a problem with the BK. Just because she didn't do this, doesn't mean that they don't ask for proof. If she lives in a community property state then this would affect whether her hubby's bank statement is considered in her BK. It sounds like she has nothing to worry about, so just show up with the requested docs. It's really no big deal, it's more a matter of proving that there is no problem. If she remains silent, by not providing the docs, it could raise a red flag.
