Banks opening Debtor in possession accounts
Posted: Mon May 04, 2015 2:01 pm
Reply-To: "Larry Gmail"
X-Original-Return-Path: "Larry Gmail"
To: cdcbaa@yahoogroups.com
X-Yahoo-Newman-Id: groups-system
Wells is good. BUT the second time I used Wells the local banker just put DIP etc on the checks but did not open a true debtor in possession account. The approved banks have agreed to use end of the month statements on all DIP accounts; which greatly simplifies accounting on the monthly report. The checks looked correct and I missed the error as did the OUST. Then the first statements came in, five accounts all with different accounting end dates. Wells fixed the problem, but the first couple of months were hard. I go to the bank with my CH11 clients, next at time at Wells I will insist that the local banker call the Wells Legal Dept, which will get the accounts set up as DIP accounts.
BTW, Wells accounts can be downloaded in Excel compatible format.
Please note that I am using a new email.
Webblaw@Gmail.com
Best regards
Larry Webb
California Board of Legal Specialization
Certified Specialist in Bankruptcy Law
State Bar of California 229344
Central District California
"A Debt Relief Agency"
Check out my Blog
Webblaw@gmail.com
Law Offices of Larry Webb
484 Mobil Ste 43
Camarillo Ca 93010
P 805.987.1400
F 805.987.2866
C 805.750.2150
Law Office Larry Webb Bankruptcy Attorney
The following notice is required by the United States Supreme Court's interpretation of 11 U.S.C. 101(12A): The Law Offices of Larry Webb is a Bankruptcy Attorney Debt Relief Agency as defined by 11 U.S.C. 101(12A) of the Bankruptcy Code. We help people file for relief under the Bankruptcy code. Bankruptcy is a Federal Court Proceeding that supersedes State Court Civil Litigation
The post was migrated from Yahoo.
X-Original-Return-Path: "Larry Gmail"
To: cdcbaa@yahoogroups.com
X-Yahoo-Newman-Id: groups-system
Wells is good. BUT the second time I used Wells the local banker just put DIP etc on the checks but did not open a true debtor in possession account. The approved banks have agreed to use end of the month statements on all DIP accounts; which greatly simplifies accounting on the monthly report. The checks looked correct and I missed the error as did the OUST. Then the first statements came in, five accounts all with different accounting end dates. Wells fixed the problem, but the first couple of months were hard. I go to the bank with my CH11 clients, next at time at Wells I will insist that the local banker call the Wells Legal Dept, which will get the accounts set up as DIP accounts.
BTW, Wells accounts can be downloaded in Excel compatible format.
Please note that I am using a new email.
Webblaw@Gmail.com
Best regards
Larry Webb
California Board of Legal Specialization
Certified Specialist in Bankruptcy Law
State Bar of California 229344
Central District California
"A Debt Relief Agency"
Check out my Blog
Webblaw@gmail.com
Law Offices of Larry Webb
484 Mobil Ste 43
Camarillo Ca 93010
P 805.987.1400
F 805.987.2866
C 805.750.2150
Law Office Larry Webb Bankruptcy Attorney
The following notice is required by the United States Supreme Court's interpretation of 11 U.S.C. 101(12A): The Law Offices of Larry Webb is a Bankruptcy Attorney Debt Relief Agency as defined by 11 U.S.C. 101(12A) of the Bankruptcy Code. We help people file for relief under the Bankruptcy code. Bankruptcy is a Federal Court Proceeding that supersedes State Court Civil Litigation
The post was migrated from Yahoo.