how much money?

[frontier2005]

hi, all. how much money you should have in the bank after filing, or before 341 meeting in new jersey?

[StartingOver08]

The filing date is the crucial date. Look to your exemptions to see how much cash you are allowed to have in your accounts.

[kvangild]

While I can't speak for New Jersey my lawyer told me (state of IOWA) the date I filed i could have no more than $1000 in my checking/savings.

[falken]

hi, all. how much money you should have in the bank after filing, or before 341 meeting in new jersey?

That is a big "it depends".

In NJ you can use federal or state exemptions. If you use federal you can have a $925 wildcard exemption, and you can use $9,250 of unused homestead exemption (you can double these values if you are filing jointly).

So if you are filing jointly, have little equity in your home, and have no other non-exempt property you need to use the wildcard on you could have $20,350.

But like I said.. it depends on your amount of equity and other property that you need to claim.

[frontier2005]

thanks for reply, filing alone, im just renting and no assets. mostly CC and some secured loans. Total of about 45K. i only have checking account where my weekly pay go.

[Flowers]

I was living on fumes.
My attorney stated $20 in my bank account.

[falken]

thanks for reply, filing alone, im just renting and no assets. mostly CC and some secured loans. Total of about 45K. i only have checking account where my weekly pay go.

Then you should be able to keep around 10k. The federal excemptions are very nice that way.