Hi everyone, I am thinking about filing chapter 7. Can you take the NY homestead exemption and also protect any cash in a bank account ( wages earned in the past 60 days)?
If so, does the protected 90% of income count off the gross pay amount? If money moved in and out of the account during those 60 days, does that make a difference as far as using that exemption? Basically, do all of those wages have to be untouched sitting in an account or can just an amount equivalent to 90% of wages earned be protected?
If so, does the protected 90% of income count off the gross pay amount? If money moved in and out of the account during those 60 days, does that make a difference as far as using that exemption? Basically, do all of those wages have to be untouched sitting in an account or can just an amount equivalent to 90% of wages earned be protected?
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