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Chapter 7 and Cash

New Member

Chapter 7 and Cash

How much cash can one keep in a CH 7? I have 20K or so in one account. Also are retirement accounts protected? I have another 150k or so in a retirement account. Could I move the 20K and keep it? Any advice from someone with experience in this matter would be greatly appreciated.
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Valued Member

Re: Chapter 7 and Cash

Your retirement account should be completely protected.  I am not so sure about the cash.  Do you have an attorney?  You should really get legal advice on this.  When I filed chapter 7 my attorney calculated it all for me, and he also adviced me to spend some of my tax retrun before filing.  It all depends on your situation and time line. 
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