Can the bank take away a lump sum deposit?

Can the bank take away a lump sum deposit if it was gifted to me from my parents? They want to help me but since I declared bankruptcy, they think any money they give me will just be taken away from the bank. Is there a way around this? I don’t want to keep $10K in a shoebox under my bed.

One Comment

  1. If you already declared bankruptcy and your case was approved or discharged then a creditor listed in your bankruptcy petition can not take your money or other property. Even though it was gifted, it is your money and you now own it. Further a creditor would have to obtain a judgment from a court before they could “execute” on the judgment. Such as wage garnishment or bank levy. So unless you have post petition creditors who have a judgment, your parents need not worry.

Leave a Reply