When you file a Chapter 7 bankruptcy, the money you have in the bank is considered one of the assets in your case. It must be protected for you to be able to keep it. There is a limit in Virginia as to the total amount of assets that you can protect in a Chapter 7 bankruptcy and the limit is a life time total. If you have filed a previous Chapter 7 bankruptcy in Virginia, you may not be able to protect all of your current assets. Don't lose money because you don't understand the bankruptcy laws. Meet with an experienced bankruptcy attorney before you attempt to file a Chapter 7 bankruptcy.