I’m single and don’t have any assets of mine. Heavily buried under mortgage debt. Neither have a car, nor a job, rather accumulated lots of debt. I want to file for Chapter 7 bankruptcy and wish to have a fresh financial start. However, few weeks ago I inherited around $60,000 from my grandmother who passed away days before then. Can I make use of any exemption to use this money? How much? Any advice will be heartily appreciated.

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Don’t rush to file for bankruptcy. If your assets or wages are not getting seized, a quick bankruptcy filing might not be a wise idea. Rather, you should consult an experienced bankruptcy lawyer so that you can keep as much property as possible in the case. Hope this helps!

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