Keeping a Checking Account During Chapter 7 Bankruptcy
When filing for Chapter 7 Bankruptcy, it is important to understand how your checking account will be impacted. Keeping a checking account during bankruptcy can help you manage your money and make payments easier. It's important to remember that the court requires you to turn over all bank accounts, including checking accounts, to the trustee assigned to your case.
There are a few ways in which you may be able to keep an open checking account during bankruptcy proceedings. For example, if you have a joint account with someone who isn't filing for bankruptcy or if the balance in the account is exempt from liquidation under state law, then it may remain open. Additionally, if a creditor has placed a lien on the assets of one or more of your accounts, this does not necessarily mean that those assets must be turned over in full.
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