How much should I save in my emergency fund after filing bankruptcy?

You should try to save at least 10% usually towards your emergency fund. Try to have an emergency fund that can meet at least 2-3 months of your lifestyle expenses.

Hey Jeremy,

I guess you should save $1,000 for a short-term emergency purpose. Savings should have top priority during budget development after bankruptcy. So, you should avoid spending more than one-third of your income on housing expenses. As Goodnelly said, you should be saving at least 10% of your monthly income as an emergency fund or in a retirement account.

Both of them are dead wrong. The biggest problem in Chapter 13 bankruptcy is that you can create an emergency fund. This means you can't save a penny for an emergency fund. Chapter 13 bankruptcy has no provision for that. Do you have a stable job? You have to spend the next 3 years carefully. If there is a sudden car repair, you have to pay out of your own pocket. Got it?