Asked in Bankruptcy

Q: Question regarding Bankruptcy Chapter 7


I live in Los Angeles, CA.

My question is regarding potential ways of using the funds that I have left before filing bankruptcy.

I used to have AirBnb business before coronavirus started. I had 25 apartments that I used to rent and sublease to guests from all over the World. Everything was great. And I was expanding. But when the crisis happened, I shut down 22 apartments in 2 months because cancellations and refunds were outrageous and therefor I couldn't sustain business anymore, as a result I have enormous debt to the middleman company between me and guests, property management company and a fee creditors that I borrowed funds to expand business. Therefor, as of now, filing bankruptcy Chapter 7 is the only way to go about it. I have already consulted with the lawyer but would like to have a second option on a few questions:

1. I, currently, have around 60.000$ in Cryptocurrency. 35000$ from it will be protected by my lawyer

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1 Lawyer Answer
David Luther Woodward
David Luther Woodward
  • Bankruptcy Lawyer
  • Pensacola, FL

A: You are entitled to the exemptions either under the statutes of California or under the United States, whichever is opted. Specific answers about crypto currency are beyond the pale of this type of website

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