Can You Spend Money After a 341 Meeting?
In a Chapter 7 bankruptcy case, you can spend money earned after filing for bankruptcy because post-filing earnings are not part of the "bankruptcy estate" or bankruptcy case. 45This means that any income you receive after filing your bankruptcy petition is yours to use as you like. However, you should not spend any money or dispose of any assets you owned at the time of filing without court approval, as these are considered part of the bankruptcy estate. 4
Here are some key points to remember:
- Post-filing income: You can spend money earned after filing for bankruptcy without restrictions. 45
- Pre-filing assets: Do not spend or dispose of any assets you owned at the time of filing without court approval. 4
- Bankruptcy estate: The bankruptcy estate includes all property owned at the time of filing, including assets and liabilities, but does not include post-filing income. 4