Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
In Texas you can opt for the Texas exemptions or the federal exemptions. The business property that is being foreclosed on is probably a security for the loan and thus will revert back to the lender.
It appears that you already know what is exempt under the Texas state exemptions. As you know the cash in a bank account is not exempt. The problem is that converting the cash, which is non-exempt, to exempt assets is considered a fraudulent transfer or conveyance and thus can be challenged by the creditor if it is done in close proximity to the filing of the BK (usually that time from can range anywhere from 90 days to 2 yrs before the BK, depending on waht laws apply) ;
However, between now and the time until they actually try to garnish your bank account, you could use that cash for day to day living expenses and if your washer and dryer have not been replaced in a long time, you may be ab;e to argue that it was a basic neccessity. I would keep receipts. JUst be careful as to not go overboard b/c if it appears that you were trying to evade your creditors, the court could deny you the right to a BK.