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Cash on hand

Posted on Tuesday, March 13, 2007

I have looked over the assets that I am allowed to keep in a bankruptcy and I don't see any section for cash. Can I keep any cash at all or at the time I file for bankruptcy do I have to give all my cash to the trustee?If I am left with no cash at all I may not be able to pay the next month's rent! If I am allowed to keep any cash, what is the limit?

1 Comments:

At 9:34 AM, Barton Goth, GCO, Bankruptcy Trustees said…

You will be permitted sufficient money to pay your normal living expenses, anything in excess of this will have to come into the bankruptcy estate. As for what normal living expenses are, this will be up to your trustee to determine this.