FAQ Chapter 7 Bankruptcy

Cash on Hand – What does that meaN?

Cash on hand is anything in a bank account, safety deposit box, your wallet, under the mattress, etc. Money that is “pending” in your bank account is considered to still be in the account! So just because you have written checks from your account, unless they have cleared your account it is still considered to be in your account and “cash on hand”!

WHAT HAPPENS IF I HAVE TOO MUCH CASH ON HAND?

You give it to the bankruptcy trustee!