Legal Question in Bankruptcy in California

Re: money in savings acct and Bankruptcy

You really should meet with a bankruptcy attorney to discuss your situation. If you file chapter 7 tomorrow, its almost a certainty that you will lose some or all of the money in savings, depending upon your other assets and how much equity you have in your home. There may be other solutions including looking carefully at the timing of your bankruptcy filing. Whatever you do, do not attempt to transfer or move that money to someone else. Talk to a bankruptcy attorney first. Most of us give an initial consultation free of charge, and then at least you can put together a plan to move forward.

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