I recently completed some free-lance work and while I'm now unemployed and about to file bankruptcy, I have some money in the bank (enough to live on for a few months, but nowhere near enough to pay my debts).
How much cash would I normally be allowed to keep when filing Chapter 7? (I live in Texas). Should I pay the rent a few months in advance and/or replace my old car, to avoid turning over all my funds in bankruptcy? I'm also concerned about having money to live on until I find more work.
I consulted with an attorney who told me she thought she could protect my bank account. But nothing I've read suggests I can go BK and expect to keep much of my cash.
How much cash would I normally be allowed to keep when filing Chapter 7? (I live in Texas). Should I pay the rent a few months in advance and/or replace my old car, to avoid turning over all my funds in bankruptcy? I'm also concerned about having money to live on until I find more work.
I consulted with an attorney who told me she thought she could protect my bank account. But nothing I've read suggests I can go BK and expect to keep much of my cash.