Anyone know the limit on how much cash you can have when you file Chpt 7? Since all my credit cards have been canceled I keep $1000 in my checking account for life's little emergencies. I'm guessing the trustee would seize some of that.

What's the limit?

So, my husband had a lot withheld from his paycheck for dependent care and for healthcare costs. I submitted for both the dependent care and healthcare and am now getting checks back since I'm trying to squeeze it all in and use it up before Dec 31st. You get the picture. Well, when we file, is that...

We are filing this Thursday and are using Federal vs State. On the day of filing will probably have the following cash on hand in my checking account.

$600 in checking
$300 in each of my kids accounts (because they are minors, I'm listed)
$3800 in my Mothers savings account...

should i list my bank account as an asset? currently has only $70 in it i am also pulling my direct deposit just in case this damn pressler and pressler gets a judgement and tries to levy

Hello..

so on the day we file, I am allowed $300 in checking accounts. What about the time between we file and the 341 hearing? Do trustees review your bank account activity during file date and hearding? Are we allowed only $300.00 at the 341 hearing?

Thanks all

I'm trying to make sure I'm interpreting the code correctly (for Delaware):

(b) In any federal bankruptcy or state insolvency proceeding, an individual debtor domiciled in Delaware shall be authorized to exempt from the bankruptcy or insolvency estate, in addition to the exemptions made...

hello,

I have a lawyer and we filed chapter 7 9/30/10. Can I start a Roth IRA? I wanna contribute $3700. Is that safe from the trustee?

My attorney says because we do not have any real estate/ mortgage, we can use our exemptions to protect our checking and savings accounts, which total around 20K. We live in Texas, and he says he will use federal exemption laws and not state. We are filing Chapter 7 due to credit cards and medical bills....