QUESTION

Chapter 7 trustee froze my bank account and I have money in there to pay my secure car loan that got lifted out the state what divi need to do

Asked on Jun 06th, 2013 on Bankruptcy - Georgia
More details to this question:
How do I go about getting it unfrozen
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1 ANSWER

Bankruptcy Chapter 13 Attorney serving Athens, GA
2 Awards
When you file a Chapter 7 bankruptcy, any assets that you own, including funds in your bank account, become property of the bankruptcy estate.  However, each Chapter 7 debtor is allowed to exempt certain property so as to protect it from being used to pay creditors.  In Georgia, the exemption normally used to protect funds in a bank account is found in O.C.G.A Section 44-13-100(a)(6).  It allows you to exempt up to $5600 in any assets.  There are other exemptions that are used to protect the equity in your home, your household goods, an automobile, etc. You need to review your bankruptcy schedules, particularly Schedule C, and determine to what extent you have exempted the funds in your bank account.  You may be able to amend your exemptions if necessary.  You can then ask the Trustee to "abandon" the funds that you have claimed as exempt.  Once you have the abandonment, the bank should release your funds. Morgan & Morgan is located in Athens, Georgia.  We have more than 30 years experience handling bankruptcy, Social Security Disability, and workers compensation cases throughout North Georgia.  Check our website at www.morganlawyers.com and call (706)548-7070 for a free intial consultation.
Answered on Jun 06th, 2013 at 3:52 PM

Our response is for general information only. No attorney client relationship is created. Always consult with a qualified attorney directly.

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