Legal Question in Bankruptcy in Michigan

Chapter 7 and Injury Settlement

I was rear-ended a year ago and havent been able to work ,needless to say I am losing everything, If I file Chapter 7 now and in a year or two however long it takes to settle my personal injury claim can the court take my money ? I own 2 homes and substantial amount of credit card debt. I realize I may have to give up one home will I be able to keep the home I have only owned for 2 years?

Asked on 4/29/07, 9:58 am

2 Answers from Attorneys

Rochelle Guznack Law Offices of Rochelle E. Guznack, PLLC
0 users found helpful
0 attorneys agreed

Re: Chapter 7 and Injury Settlement

If you file for bankruptcy, you will need to tell the trustee about the potential personal injury case. The case will then need to be litigated through the bankruptcy court, and you will need to pay back your creditors with any recovery as a result of the car accident.

Read more
Answered on 4/30/07, 6:50 am
Regina Mullen Legal Data Services, PLC
0 users found helpful
0 attorneys agreed

Re: Chapter 7 and Injury Settlement

You need to consult your attorney, the one handling your PI claim. Any other advice would be unethical, since you are represented by counsel.

Read more
Answered on 4/29/07, 7:41 pm

Related Questions & Answers

More Bankruptcy Law questions and answers in Michigan

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Bankruptcy Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now