Bank Accounts
What Happens to a Bank Account During Bankruptcy?

Those looking forward to a Chapter 7 bankruptcy filing in Arizona are primarily concerned about their assets and property. Will everything be liquidated? Will real estate be affected? How about savings? You can have some money in the bank saved for the future, for an emergency or for a particular goal. Does a bankruptcy filing mean you’ll have to save goodbye to the entire amount? In Arizona, there are certain bankruptcy exemptions and here’s how they apply to bank accounts or savings. Personal Savings and Chapter 7 Liquidation Arizona bankruptcy law does envision a bank account exemption. Unfortunately, the sum…
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