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
    1. Advertisements

  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
    1. Advertisements

  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
    1. Advertisements

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.
Similar Threads
  1. Harlan Lunsford

    Too much cash

    Harlan Lunsford, Oct 31, 2004, in forum: Tax
    Replies:
    4
    Views:
    515
    Harlan Lunsford
    Nov 5, 2004
  2. William Brenner
    Replies:
    1
    Views:
    745
    A.G. Kalman
    Feb 17, 2005
  3. Martin

    HMRC - could be much, much worse...!!

    Martin, Feb 14, 2009, in forum: UK Accountancy
    Replies:
    1
    Views:
    898
    Edward Cowling London UK
    Feb 15, 2009
  4. Haik

    Too much cash warning

    Haik, Feb 25, 2009, in forum: Microsoft Point Of Sale
    Replies:
    1
    Views:
    375
    Afshin
    Feb 26, 2009
  5. lakinapook

    can I keep my car in chapter 7?

    lakinapook, Nov 26, 2003, in forum: Bankruptcy
    Replies:
    1
    Views:
    266
    Wendy
    Nov 27, 2003
  6. clutterbug

    Chapter 7 vs. Chapter 13 - some questions

    clutterbug, Jul 19, 2004, in forum: Bankruptcy
    Replies:
    2
    Views:
    666
  7. Hank Freeman
    Replies:
    0
    Views:
    577
    Hank Freeman
    Aug 6, 2004
  8. The Radney's
    Replies:
    1
    Views:
    754
    Brett Weiss
    Aug 23, 2004
Loading...