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I will be getting Residential School money settlement, and I recently filed bankruptcy. Can they take my settlement?
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This really depends on the nature of the settlment.
Therefore, it will be necessary to determine what portion of the settlement payments relate to pain and suffering, as this portion will be exempt and therefore not seized by the trustee.
Furthermore, if the funds are exempt the Superintendent has put together a Position Paper in May 2006 that states that any monies received in this type of settlement that do relate to pain and suffering and therefore should not be considered when calculating surplus.