How much cash can I keep in Chapter 7?

Discussion in 'Bankruptcy' started by my_dollars@mail.com, Sep 17, 2005.

  1. Guest

    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?
     
    , Sep 17, 2005
    #1
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  2. melonjr Guest

    <> wrote in message
    news:...
    > 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.
     
    melonjr, Sep 17, 2005
    #2
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  3. Guest

    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.
     
    , Sep 17, 2005
    #3
  4. ElJay Guest

    Keep shopping for a bankruptcy attorney. As you know, consultations are
    free.

    <> wrote in message
    news:...
    > 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.
    >
     
    ElJay, Sep 17, 2005
    #4
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