No. This is a common misconception that may people have when considering filing Chapter 7 or Chapter 13 bankruptcy. It may even complicate your case. If you pay an unsecured creditor such a credit card company more than $600 in total within the 90 days before you file bankruptcy, the payment is considered a preferential payment.
In Chapter 7 Bankruptcy, the Trustee can go back to the creditor and demand that the creditor turnover the funds to the bankruptcy estate so that the money can be divided among all of the creditors that file a claim. The Trustee may then look closer to see what unprotected assets you have that he or she might now add in to increase what can be paid tot he creditors. Your case may remain open for several months while the Trustee is collecting and distributing money.
In Chapter 13 Bankruptcy, you will need to include it in the reconciliation section of the Chapter 13 Repayment Plan to see if it affects how much you need to pay back to your creditors.
