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single girl

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”

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.