Legal Question in Bankruptcy in Florida

Chapter 7 Bankruptcy (Florida)

I was laid off 2 months ago and I am contemplating filing chaper 7 bankrupcy in Florida. I have a couple questions.

#1. Can a credit card company contest a cash advance I took out 4 months or more before the filing date?

#2. At present my only sources of income are social security and unemployment. What happens to the money I have in my checking and savings accounts? (approx $5,000 total)


Asked on 6/09/09, 11:47 am

2 Answers from Attorneys
Brent Rose The Orsini & Rose Law Firm

Re: Chapter 7 Bankruptcy (Florida)

1) Yes, especially if it's over $600.

2) It depends on the source of the money and what you have in terms of other exemptions. You should speak with a lawyer about this. Otherwise, the money could be at risk.

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Answered on 6/09/09, 1:24 pm
Charles Gallagher Gallagher & Associates Law Firm, P.A.

Re: Chapter 7 Bankruptcy (Florida)

That money goes to the bankruptcy estate to satisfy claims.

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Answered on 6/09/09, 2:59 pm


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