Are you allowed to keep any money in the bank when filing bankruptcy? I have $5000.00 in the bank I owe, $74000.00, I make $2100.00 after taxes per month. The $6000.00 is strictly for emergencies or illness etc. Would I loose that money?
Savings Account
Posted on Tuesday, January 30, 2007
posted by Questions @ 1:38 pm
1 Expert Comment:
At February 1, 2007 |
2:34 pm
, Barton Goth, GCO Inc. Bankruptcy Trustees Said...
If you were to file a bankruptcy you would be required to bring the money in the savings account to your trustee. Alberta legislation requires that these are monies that legally must be used to provide a benefit to creditors and failure to do so would result in your not being eligible for a discharge from bankruptcy.
Please type your comment below:You must be logged in to post a comment.
