Can you save money during a chapter 7 bankruptcy?

[jstaylorga]

I've looked through the forum and did not find an answer to my question. If I missed it please excuse the duplicate post. My question is can you save money during the process of a Chapter 7? We just file the paperwork at the court house today, In our case we now want to stop paying the house, car, loan payments, etc and save this money for the expense of moving to a rental house. When we meet the trustee will he ask how much we then have in our checking account? How is this issue handled???

Thanks,

John

[despritfreya]

Yes. Your Trustee is not entitled to post petition wages/savings. So, if you stop paying the mortgage you can "bank" the savings.

Des.

[Craig316]

You should probably check your state exemptions. Some are more lenient than others.