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How much cash can I keep in Chapter 7?

 
 
my_dollars@mail.com
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      09-16-2005, 11:28 PM
I met with a Texas banktuptcy attorney who told me she'll be able to
protect my savings account should I file a Chapter 7. But I'm left with
a lot of questions.

How much cash should I realistically expect to keep? If I'm unemployed
(and not yet collecting benefits), would that amount change? If the
court takes my cash, how would I pay rent and other essential expenses?

And if I can't keep my cash, would it be best to replace my old car and
pay the rent a few months in advance, and then file?

 
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melonjr
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      09-16-2005, 11:55 PM

<(E-Mail Removed)> wrote in message
news:(E-Mail Removed) oups.com...
> I met with a Texas banktuptcy attorney who told me she'll be able to
> protect my savings account should I file a Chapter 7. But I'm left with
> a lot of questions.
>
> How much cash should I realistically expect to keep? If I'm unemployed
> (and not yet collecting benefits), would that amount change? If the
> court takes my cash, how would I pay rent and other essential expenses?
>
> And if I can't keep my cash, would it be best to replace my old car and
> pay the rent a few months in advance, and then file?
>


Read here:

http://www.bankruptcyaction.com/txexemptions.htm

Also, I wouldn't pay anything in advance.


 
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my_dollars@mail.com
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      09-17-2005, 12:35 AM
Thanks. The exemption document appears to suggest you can keep your
current paycheck. It says nothing about savings. I'm still unclear on
the subject.

As far as paying the attorney in advance, the filing deadline is fast
approaching and attorneys can make certain demands. This particular
attorney wants $1,000 in advance and a total fee of $1,600.

 
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ElJay
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      09-17-2005, 01:30 AM
Keep shopping for a bankruptcy attorney. As you know, consultations are
free.

<(E-Mail Removed)> wrote in message
news:(E-Mail Removed) ups.com...
> Thanks. The exemption document appears to suggest you can keep your
> current paycheck. It says nothing about savings. I'm still unclear on
> the subject.
>
> As far as paying the attorney in advance, the filing deadline is fast
> approaching and attorneys can make certain demands. This particular
> attorney wants $1,000 in advance and a total fee of $1,600.
>



 
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