QUESTION
Can a bankruptcy from 10 years ago take my settlement?
Asked on Oct 07th, 2014 on Bankruptcy - New York
More details to this question:
I filed bankruptcy in 2001. It was closed in 2001. I filed a suit against the tobacco company around 2003. As I understand, they want to pay my bankruptcy from 2001 out of this settlement.
10 ANSWERS
Chapter 7 Bankruptcy Attorney serving Milwaukee, WI
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Law Offices of Deborah A. Stencel
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If the injury which gave rise to the suit predates the bankruptcy, they can take any unexempt portion of your settlement.
Answered on Oct 09th, 2014 at 6:12 AM
Debt Settlement Attorney serving San Diego, CA
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Law Offices of Kathryn Tokarska
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Did the acts of Defendant that gave rise to the claim occur before the Bankruptcy was filed? If yes, then it was a claim that existed at the time the bankruptcy was filed. Such claim was an asset of the debtor at the time the bankruptcy was filed. Unless the asset was listed in the bankruptcy schedules as an asset and either exempted or abandoned by the Trustee it is a non-exempt asset of the bankruptcy estate. The Trustee can reopen the old bankruptcy case and use funds to pay creditors. How much, depends on more facts not disclosed.
Answered on Oct 09th, 2014 at 6:11 AM
Presumably, the damages you sought in this lawsuit had occurred by 2001 and would have been an asset in your bankruptcy case. If you forgot to list these damages & the right to sue for compensation, there is no time restriction on the bankruptcy court to come back and seek this asset.
Answered on Oct 08th, 2014 at 4:20 PM
Derek W. Freeman
It depends. Did the claim accrue prior to when you filed bankruptcy? Did you list the claim on your bankruptcy petition? From the facts you gave, it appears that the claim accrued and was filed 2 years after your bankruptcy. If that is the case, then the award from the case should not be a part of the bankruptcy estate, and the trustee has no right to seize it. You should get an attorney to help you.
Answered on Oct 08th, 2014 at 4:20 PM
Bankruptcy Attorney serving Walnut Creek, CA
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Alan E. Ramos Law Offices
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It depends. If the claim existed at the time that you filed your bankruptcy, it could be an asset of the bankruptcy estate. You should contact an attorney an provide him/her with all of the facts regarding this claim.
Answered on Oct 08th, 2014 at 10:17 AM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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You will to look and see if the potential case was listed in the bk. If it was, was it abandoned by the trustee. Otherwise it is possible.
Answered on Oct 08th, 2014 at 12:44 AM
Bankruptcy Attorney serving Seattle, WA
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The Law Office of Marc S. Stern
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That is a difficult question and the answer is maybe. It depends upon when the cause of action accrued. Was the action listed as a claim on your bankruptcy schedules as an asset? It is a very difficult question to answer without many more facts.
Answered on Oct 08th, 2014 at 12:40 AM
No it can not unless you did not disclose it
Answered on Oct 08th, 2014 at 12:39 AM