Legal Question in Bankruptcy in California

we just went to Bankrupcy court on Tuesday, On Friday we received a large settlement fo personal injury case.Do you have to claim money we received from a personal injury claim.

Asked on 6/05/10, 7:30 am

2 Answers from Attorneys

Carl Starrett Law Offices of Carl H. Starrett II

Yes! The personal injury lawsuit was an asset that should have been disclosed in your bankruptcy papers. Failure to do so could lead to a denial of your discharge. In fact, it could even be considered perjury and that carries a fine of up to $250,000 and up to 5 years in jail. If you don't have a bankruptcy attorney, you need one. If you have one, notify the attorney about this right away if you haven't already done so.

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Answered on 6/05/10, 10:39 am
Robert F. Cohen Law Office of Robert F. Cohen

The good news is that you might be able to exempt a sizable portion of the personal injury settlement. However, you should obtain advice from an attorney regarding amending your petition and what and how to exempt the settlement proceeds.

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Answered on 6/05/10, 11:04 am

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