answersLogoWhite

0


Best Answer

Why aren't you asking your bankruptcy attorney? It depends on the amount and what the award is for. And the details may depend on what bankruptcy court your 13 is in. You may be able to use the money to prepay your 13 plan and get out of bankruptcy. The money would go to you, not the bankruptcy attorney (unless you owe the attorney money). What claim the trustee would have is the issue.

User Avatar

Wiki User

16y ago
This answer is:
User Avatar
More answers
User Avatar

Wiki User

13y ago

It depends. If the settlement was for a claim that you had before you filed, and you did not list the claim in your Schedule B, or you did not exempt it if you did list it, you might have to turn the money over to the trustee. Ask your lawyer or consult a local bankruptcy lawyer.

This answer is:
User Avatar

User Avatar

Wiki User

13y ago

Yes. The injury lawsuit must be disclosed in the BK schedules. If it is of nominal value, the trustee may abandon it. If there is serious money however, the trustee can prosecute the lawsuit and keep the proceeds of any settlement to pay off creditors. Depending on the exemptions your specific states uses, you may be able to exempt a certain amount, and this would also need to be disclosed in the BK schedules.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Being in a Chapter 13 bankruptcy and receiving money for a personal injury settlement two years after filing do you have to by law turn that money over to the Trustee or bankruptcy attorney?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How do you file for personal bankruptcy?

Seek advice from a professional. Your local bankruptcy attorney is there to help you.


Can assets be protected from a personal injury judgment by filing bankruptcy?

Yes. Consult a knowledgeable bankruptcy attorney.


In order to file bankruptcy must you have a bankruptcy attorney?

If you are filing for personal bankruptcy it is not necessary to have a lawyer. If you are filing for business bankruptcy, you must retain a lawyer on your behalf.


Mental health rights regarding personal bankruptcy?

That would depend on a variety of factors that you do not state, and that we are not equipped to address. Your bankruptcy attorney should be able to answer any questions you might have. If not, find a different attorney.


What happens if you consigned for real estate and the person declares bankruptcy?

You need to consult a nearby personal bankruptcy attorney that has experience in working with creditor's privileges.


Where might one go to find a Chapter 7 bankruptcy attorney?

The Jacob Meyers bankruptcy website offers free evaluation on personal bankruptcies. The website shows information on how to get free consultations, hiring attorneys for a personal case at reasonable prices.


I am nearing retirement and have many credit card bills to pay which i cannot afford. is bankruptcy an answer and will it affect my partner if it is personal bankruptcy?

You should definitely discuss bankruptcy with an experienced attorney. It will affect your partner only if you have joint debts that wll have to be listed in the bankruptcy. S/he will have to pay the debt.


Does a medical lien come out of the plaintiff's settlement?

I AM NOT AN ATTORNEY!!! However, I do work on personal injury cases quite a bit. I know in Massachusetts, medical liens come out of the plaintiff's settlement.


Which type of bankruptcy should an individual file if he is being sued by a passenger involved in a car accident?

The issue needs to discussed with an attorney who is qualified in bankruptcy litigation. Personal injury lawsuits are halted by the automatic stay when a BK is filed. However, it is not uncommon for personal injury suits and/or judgments to be excluded from a bankruptcy discharge.


If you are filing personal bankruptcy and have a truck you cannot afford should you have it repossessed and include the debt in the bankruptcy?

B/K depends on your situation and there is no standard advice. But that is likely the best thing to do. As you stated, you cant afford it.Ask your B/K attorney. S/he can advise you better. I agree with that answer. Talk to your attorney. Filing for bankruptcy is a legal process and can be complicated so it's important to work out your bankruptcy carefully. Bankruptcy is the best way to get relief from debt.Get advice on bankruptcy and how best to deal with your debts , This independent website has a lot of useful information: http://freshstartsolutions.com.au/bankruptcy/#bankruptcyoption


Do you have to go to court after receiving a summons if you filed a Bankruptcy petition.?

response form for bankruptcy F7004-1 summons


Where would one find advice for a divorce settlement?

You can receive advice for a divorce settlement online at websites such as DivorceNet, Forbesm and DivorceSupport. You can also contact a local attorney and ask his or her personal experience on these types of cases.