Legal Question in Bankruptcy in Massachusetts

I need to file for bankruptcy and I was in a car accident almost a year ago and an attorney is handling that case. Can bankruptcy take my settlement from car accident if say it was for $9000?


Asked on 5/18/11, 7:30 am

3 Answers from Attorneys
David Baker Law Office of David Baker

Bankruptcy law allows you to keep some assets no matter what; these are called "exemptions". Whether you could keep the settlement depends on what other assets you have and your circumstances overall. Consult with an experienced bankruptcy attorney to get advice that is tailored to your specific needs and circumstances.

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Answered on 5/18/11, 7:39 am
Dmitry Lev The Lev Law Firm

There is a federal exemption for about $20,000 for a personal bodily injury (as opposed to pain/suffering). This is under Section 522(d)(11)(D).

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Answered on 5/18/11, 8:02 am


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