saving money and filing

[okiemom2008]

I just had a question for everyone who filed....Are you allowed to save up money before you file so you can have a car and house after you file? What are you all doing after you file when it comes to having a house and car?

[ansky0007]

Bankruptcy is for people that can not pay their debts any longer. You are only allowed small amounts of cash as exempt. If you save up a large sum of money they will take anything over your allowed exemption to pay some back to your creditors.

[okiemom2008]

Bankruptcy is for people that can not pay their debts any longer. You are only allowed small amounts of cash as exempt. If you save up a large sum of money they will take anything over your allowed exemption to pay some back to your creditors.

I understand that. If I do go the route I am going to have money saved up so we are not homeless. How much can each person have?

[ansky0007]

I understand that. If I do go the route I am going to have money saved up so we are not homeless. How much can each person have?

We were allowed $2250... Not much. Do a search here because there are sites that post all the allowable exemptions per state.

[GreenInkOnPaper]

Can one start saving after the 341?

[ansky0007]

You need to be solevent when filing for a Chapter 7, If you have extra money each month after your expenses they can push you into a Chapter 13. Have you talked with a lawyer yet?

[okiemom2008]

You need to be solevent when filing for a Chapter 7, If you have extra money each month after your expenses they can push you into a Chapter 13. Have you talked with a lawyer yet?

No I have not. We have been going back and forth for bankruptcy for 6 months. Cant decide what to do. We do not have money left over after paying our bills...we are actually 500 short every month. I was just going to stop paying the bills and save our paychecks in a account that way we can buy a crappy car and save a despoti for a rent house.

[GreenInkOnPaper]

You need to be solevent when filing for a Chapter 7, If you have extra money each month after your expenses they can push you into a Chapter 13. Have you talked with a lawyer yet?

You meant insolvent, right?

[okiemom2008]

We were allowed $2250... Not much. Do a search here because there are sites that post all the allowable exemptions per state.

Would I look in the state I am in now? (kansas)
or where my first house is(texas)
or second house(oklahoma)

we are back in Oklahoma in May 2009 and hopefully stay there

Also, were you allowed 2250 each? It is my husband, myself , and our one year old

[mmenz22779]

I am in CA so we have a total exemption of 21000, so if i did not use any of that i could have 21000 cash in the bank and it is totally safe.

Check your exemptions.

[hopeforus]

You would use the state you plan to file in. You have to be a resident for 91 days though wherever you will be filing. We live in Wisconsin but are moving to join my husband in Ohio soon. He won't be a resident for 91dys there until Jan1st so we have to wait.

[hopeforus]

I'm really jealous of some of your states exemptions! Ohio really really stinks!

[okiemom2008]

You would use the state you plan to file in. You have to be a resident for 91 days though wherever you will be filing. We live in Wisconsin but are moving to join my husband in Ohio soon. He won't be a resident for 91dys there until Jan1st so we have to wait.

How do they check your residency? We lived in a hotel before we moved to this rent house. We have been in the rental since Sept 29. Would I wait to talk to the lawyer until the 91 days or just wait to have the bankruptcy completed?

Is there a website I can go to to check the exemptions of Kansas

[hopeforus]

We are talking to an attorney first. I think you just can't file until 91dys. Not sure why you couldn't secure a lawyer though.

http://www.legalconsumer.com/ Is the site I have been using. Just change it to your state. And residency... I think you have to have a utility bill or something, or a license or... I'm not really sure. We are wondering about this as well. Not sure if it's enough that my husband has been working there since Sept.

[okiemom2008]

We are talking to an attorney first. I think you just can't file until 91dys. Not sure why you couldn't secure a lawyer though.

http://www.legalconsumer.com/ Is the site I have been using. Just change it to your state. And residency... I think you have to have a utility bill or something, or a license or... I'm not really sure. We are wondering about this as well. Not sure if it's enough that my husband has been working there since Sept.

Thanks!!