Can some unused exemptions offset others?

[Ineedhelp2]

I belive my attorney told me that the most cash we could have when filing is $800.

My biggest concern as a self-employed person is that money that is owed to me by my customers is considered an asset and would be the property of the court.

If I don't use or if I underuse certain exemptions, could it be applied to my cash exemption and could that be applied to my accounts receivable?

For example, if I have receivables of $3,800 but have zero cash, would that mean the court would only take $3,000?

Are there any other exemptions that if not used could help offset this?

[BobMango]

What state are you in? If you are in a state that allows you to use the Federal exemptions, then you could use up to $10,125K of your unused homestead exemption (double that for filing jointly.) But since your attorney said you could only have $800 I suspect your state does not allow Federal exemptions and limits your cash exemptions to that amount.

[Ineedhelp2]

I'm in Oregon.

[AngelinaCatHub]

Also, how is your company structured? If you take a salary, and roll your accounts receivable into the business, it belongs to the business. If you are a sole proprietor, you may have a problem. 'Hub

[StartingOver08]

Also, how is your company structured? If you take a salary, and roll your accounts receivable into the business, it belongs to the business. If you are a sole proprietor, you may have a problem. 'Hub

Even so, if you are a single member LLC or S Corp and you file personal BK, the A/R as of the FILING date belong to the BK Estate and the Trustee. The fact is, your business is an asset to your personal BK. This is why you want to time your filing so your receivables are at their lowest point or what you have left is uncollectable.