QUESTION
We are filing chapter 13 but I have a workman’s comp case pending, what happens to that money when I get it?
Asked on Jun 17th, 2013 on Bankruptcy - Missouri
More details to this question:
We are filing chapter 13 but I have a work. comp case pending what happens to that money when I settle?
9 ANSWERS
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Ask your bankruptcy attorney. If you do not have one then it is extremely important you retain an experienced chapter 13 attorney. Please understand that chapter 13 bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
Answered on Jun 20th, 2013 at 7:13 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Speak with your workers comp and bankruptcy attorneys. Generally you have to list all assets, including pending lawsuits which are assets in the bankruptcy, and, if they are settled or won, the proceeds are due your creditors.
Answered on Jun 17th, 2013 at 10:05 PM
Not to worry! Workers compensation benefits are 100% protected under the Nevada exemptions.
Answered on Jun 17th, 2013 at 10:05 PM
Deborah F. Bowinski
That is a great question to ask your attorney since the answer may well vary from one jurisdiction to another. The form of the settlement may make a difference depending upon whether it is monthly compensation or a lump-sum settlement amount.
Answered on Jun 17th, 2013 at 10:05 PM
Bankruptcy Attorney serving Plantation, FL
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Moffa & Breuer, PLLC
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It depends on how it is listed on your Schedules and what it is for.
Answered on Jun 17th, 2013 at 10:05 PM
Bankruptcy Attorney serving Henderson, NV
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Jeffrey A. Cogan Chartered, a PLLC
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You get to keep all of it. If your attorney does not know that, you should get a new attorney.
Answered on Jun 17th, 2013 at 10:04 PM
Personal Injury Attorney serving Glendale, CA
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JT Legal Group
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Your attorney will protect it in whatever way they can.
Answered on Jun 17th, 2013 at 10:04 PM
Your workers compensation claim is 100% exempt, and the bankruptcy trustee cannot take that from you when you receive it. However, you might choose to use some or all of that money to fund your Chapter 13 plan. Whether that is a good idea depends on the specifics of your plan, and you should get advice about that from an experienced attorney.
Answered on Jun 17th, 2013 at 9:27 PM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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You will have to hold that money and report it, or have your attorney report it to the trustee.
Answered on Jun 17th, 2013 at 9:16 PM