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Insurance Settlement

When you are in the process of bankrupty and you receive a settlement on a vehile accident from 3 years ago, does these funds go to your trustee.

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One Response to “Insurance Settlement”

Barton Goth, GCO, Bankruptcy Trustees said...

This largely depends on the type of settlement that is received. For instance, any monies for asset recovery or loss of wages would be sent directly to the trustee, but any monies received for personal injury or pain and suffering would be yours to keep.
You would be best advised to have any documents relating to this settlement reviewed by a licensed trustee and they would be able to give you a clear idea of what to anticipate.