very green

[gluck]

Hello all:

I just registered on this forum, and it is actually the first time I have ever been registered on a forum of any sort, so bear with me and any mistakes I make please.

We (my wife and I) want to file ch. 7, and are using the NOLO book How to File for Chapter 7 Bankruptcy.

Does any one know if the federal wildcard exemption pertains to cash and/or checking/savings accounts? All we can find is that it covers "property". Even though we think it applies to accounts, we can't find anything specific about it.

Any information you all can give us would be greatly appreciated. Thanks!

[IznooGood]

Yes~as far as I was told, by an attorney in Michigan. Wild card is for any overflow of items/cash not covered by an exemption up to the total wildcard limit, and also, I believe you and your wife will each qualify for the wildcard amount(if you file married filing jointly). Win! Win! Good luck. My husband and I are in the same situation.

[gluck]

Thanks!

That's great to know! We assumed that was how it worked, but we want to be sure.

We don't have much in our accounts, but we would like to hang on to it because we are planning to move soon, and without it, we don't go anywhere.

Thanks for the tip about doubling for federal exemptions. Even though our book isn't clear on the accounts being covered by wildcard, it does seem to be pretty thourough on other things. They do mention doubling also.

Thanks again for your help, and same to you but more of it: WIN! WIN!