settlement payment

March 26th, 2007 by Questions

If i’m receiving a settlement from my exhusband and i go bankrupt will i loose my payments each month.


One Response to “settlement payment”

, A licensed trustee said:

The answers depends on what the settlement is for. If your ex is paying you for assets from your separation then it may be seized by your trustee. If it is some sort of income replacement then it may not be seized, but it will be subject to the surplus income rules (ie it will affect your monthly payments).

All I can suggest is that you discuss this particular item in detail with your trustee before you file so that there won’t be any surprises. It may be that you should be considering a proposal instead of bankruptcy, but that’s a decision for you to make after you meet with a trustee.

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.)