With only $150 in 1 account exempt, how do I protect additional cash????

[L357]

What is the name of your state?Arizona

Ok, still slowly moving forward with filing CH 7. I have read that only $150 in one account is exempt. What if you have 500 to 700 or more cash. Any way to protect that????

[Ladynred]

You need to look very closely at the AZ exemptions.

[url]http://www.azleg.state.az.us/ArizonaRevisedStatutes.asp?Title=33[/url]

Go down to Chapter 8, Article 2

The Household furnishings is pretty specific.

If you have more than $150 cash in ONE bank account, then the Trustee can ask for anything over that.

Just don't have any more than $150 cash in the bank on the day you file.

AZ has no wildcard exemption and the rest of the Personal Property exemptions are fairly specific, so I don't see any way to protect that 'extra' cash. You need to ask a BK lawyer in your area, there MAY be something you can do.

[L357]

Sorry, this is important and I forgot to clarify. I am currently recieving unemployment benefits so off the top of my head I don't think the amount I have on hand would surpass what I could show as having come from those benefits. Would that make all the difference or any difference.

Thank you.

[Ladynred]

Unemployment benefits are exempt, so yes, it DOES matter.