QUESTION

i filed bankruptcy in 2005 and now the trustee wants to reopen my case,can they do that?

Asked on Jan 05th, 2013 on Bankruptcy - Missouri
More details to this question:
Filed bankruptcy in 2005 and it was discharged the same year. I kept the house and car,continued to pay on them. Now I am informed that I will be receiving a settlement from a class action lawsuit regarding a second mortgage I had and the trustee wants my bankruptcy to be reopened. How can I keep them from taking the settlement? what are the chances that they would take any or all of it?It's been 7 yrs. Any advise would be appreciated.
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1 ANSWER

Bankruptcy Attorney serving Burbank, CA
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You need to consult with a bankruptcy attorney in your area.   If this lawsuit was filed before your bankruptcy case was filed, then for sure the trustee can reopen for that purpose.   If it was filed after, but the cause of action arose prior to you filing the bankruptcy (which is very possible), that would also be appropriate.  However, you may have exemptions that can protect some portion of the proceeds of the settlement.  You don't disclose what that amount is or which state's exemption laws applied in your case, and I don't have access to your bankruptcy files to see what other assets you had exempted already.  Thus, you need to consult with a bankruptcy attorney in your area for more details on what, if anything, you can do to protect yourself. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau. 
Answered on Jan 06th, 2013 at 5:03 PM

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