9 February 2017
If you are planning to file for Chapter 7 bankruptcy and have some cash in the bank, you risk losing your money to the bankruptcy trustee. Therefore, you should take precautions (within the legal boundaries) of protecting your cash. Here are three precautions that may help: Keep Clear Records of Your Cash When you file for Chapter 7 bankruptcy, the money you earned before the application can be used to pay your creditors, while the money you earned after the application is wholly yours.