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

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.

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Answered on 4/30/07, 6:50 am

Regina Mullen Legal Data Services, PLC

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.

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

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