Can I Keep My CD If I File For Bankruptcy?
By L. Jed Berliner, Western & Central Massachusetts Bankruptcy Attorney on Aug 11, 2009 in Exemptions In Bankruptcy
Is your Certificate of Deposit protected if you file a bankruptcy case? Maybe. What else do you have, and are you using the federal or a state’s list of exemptions (protected assets)?
The federal list has special protected values for special assets, not including cd’s. It also has a wild card exemption, which you can apply to anything, of $1,075.00 per filer $2,150 if married) plus up to $10,125 per filer of the unused home equity protection.
There’s only a $500.00 protection per filer in Massachusetts for all bank accounts, including cd’s.
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