Expert: Terry Leeders - 10/23/2008

Question
If and when I file bankruptcy, does your bank account get frozen?  What happens to your assets?  Also, if I file in Texas and move to another state what happens?

I appreciate any help you can provide.

Thanks,
Brad

Answer
You can exempt certain assets from bankruptcy.  You need to talk with a local attorney about what you can protect.  Normally, your bank account will not be frozen if it is exempt.  If you move before filing, jurisdictional rules apply, generally you have to file where you have been for the last 90 days.