If your bank account has a negative balance on the date your case is filed, it'll be listed as having $0 in the account on your Schedule A/B. You'll also have to make sure to add the bank as a creditor so it's listed on your Schedule E/F and on your creditor's matrix.
- If your account had a negative balance when you began working on your forms, but you brought it back to a positive balance before your filing date, make sure it's not listed as a debt on your Schedule E/F.
- If your account had a positive balance when you started and it's now at a negative balance, make sure to add the bank as a creditor on both Schedule E/F and on your creditor matrix.
Can I keep a checking account that overdrafted?
Generally you can, but that will require you to pay back the amount you overdrafted by (including any overdraft fees you may have incurred) to bring your account back to a positive balance. Since the negative balance is otherwise discharged like any other unsecured debt, its often a better idea to open a new account before filing your case and start fresh.
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