Debtor files and declares their bank account with $1000. They exempt it in Schedule C with wildcard (which for this example is $30,000+ in California)
How soon can Debtor access that cash for use in everyday survival needs (ie food, bills)? Do they have to wait the 30 days objection period?
As I understand it the exemption applies immediately on claiming it, BUT it can be objected.
So if debtor uses funds for survival, is it a case of 'asking for forgiveness not permission' and repaying the difference?
Or is there a court motion that debtor has to do with court to get this permission?
How soon can Debtor access that cash for use in everyday survival needs (ie food, bills)? Do they have to wait the 30 days objection period?
As I understand it the exemption applies immediately on claiming it, BUT it can be objected.
So if debtor uses funds for survival, is it a case of 'asking for forgiveness not permission' and repaying the difference?
Or is there a court motion that debtor has to do with court to get this permission?