Can a chapter 7 debtor own anything after bankruptcy?
Yes. A chapter 7 debtor may keep exempt property (property protected from creditors) and property obtained after the bankruptcy is filed. However, if a debtor receives an inheritance, a property settlement, or life insurance benefits within 180 days after filing, that money or property may have to be paid to the creditors (through the trustee) if the property or money is not exempt. You should immediately notify your attorney and the Chapter 7 Trustee should this happen to you. Do not dispose of any property you acquire via any of the above within the 6 months after filing.
