Being Sued
I have been thinking about claiming for a long time now. I have recently been put in an unexpected situation and know I am going to be sued by an insurance company for around 12000 dollar. If I wait until after the judgement (again I know this is my fault and I will lose) will bankruptcy eliminate this debt or should I just file now and deal with this as it comes?
Posted from: Ontario
Whether or not bankruptcy will deal with the lawsuit literally depends on why you are being sued. If it is a simple civil judgment then bankruptcy will deal with the debt. If the insurance company is alleging malfeasance or misrepresentation then bankruptcy may not. You’ll need to speak with a lawyer once you receive the suit to get an opinion on whether or not bankruptcy will effectively deal with the problem.