July 14th, 2010 by Questions
If I get a settlement from a car accident after I have filed for bankruptcy (approximately a year later) will money be taken away from my settlement because I have filed for bankruptcy?
Posted from: Ontario
One Response to “single girl”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
July 16, 2010 at 7:01 am, A licensed trustee said:
You need to advise your trustee (if you have already filed or when you do file) of the pending settlement from the accident. Whether or not some portion of that money will be payable to your creditors depends on what the settlement is for – if the insurance company pays your for pain and suffering or the loss of use of a limb you will keep the money. If the insurance company is paying you for lost wages and/or economic loss then it will likely go to your creditors.
Discuss this with your trustee, preferably BEFORE you file.