How much money can you have in your bank account at the beginning of a bankruptcy?
April 14th, 2014 by Questions
I need to declare bankruptcy. It is the only way to get past where I am. I need to know – if I have $2000 in my bank account (which I see as money to pay for the cost of bankruptcy) will it be used for that purpose or will it be seized to pay debtors…and leave me still owing the $2000 bankruptcy fee. How much money can you have in your bank account at the beginning of a bankruptcy – obviously I need to pay my rent etc….so am I allowed the equivalent of the monthly amount I am allowed – which as an individual is about $2000 (per month) or does my bank account need to be at zero…and if so how do I pay my living expenses. Additionally, I am on EI and receive CPP which do not put me over the allowable $2000…seeing as EI and CPP is within my allowable income will it still be paid to me? It is my only means of support.
Posted from: British Columbia