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This will be considered an asset. You cannot file bankruptcy if you have a number of assets that can be used to pay your creditors. Depending on the amount of the settlement, you should wait years to file bankruptcy.

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Q: How soon after receiving a settlement from an accident can you file bankruptcy?
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Can you file bankruptcy if you caused a car accident?

Can you file bankruptcy if you caused a car accident?


Can you file bankruptcy if you receive VA disability?

It is possible to file bankruptcy when receiving VA disability.


How long after discharge can you file an amendment for a lien left out of bankruptcy by accident?

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Yes. History is full of examples.


Do you have to report a structured settlement from a car accident and can you still file Chapter 7?

AnswerYou have to report ALL assets. Any individual can file for Chapter 7, but the whether you are eligible for a discharge is another matter. Your ability to get a discharge depends on your assets, income, debts and monthly expense. Beginning October 17, 2005, it will also become much harder to file for bankruptcy. If you are seriously considering filing for bankruptcy, you should see an attorney right away.Often the bankruptcy court will determine that a structured settlement is an exempt asset, so it would not be available to creditors. However, if you don't report it, then there is a risk that at some point in the future the structured settlement will be seized by the bankruptcy trustee and/or the old creditors.


Do you file taxes on a car accident settlement?

no you can only file taxes in a tax place around the world or where ever you live


Should one file for bankruptcy or settle with credit card company?

I have been considering claiming bankruptcy for quite some time now. I have no money and am a student. I was injured on the job a few years back and am going to be receiving a settlement offer from the worker's compensation company soon. The settlement would pay half of my credit card debt. Should I try to settle with the credit card company for less than I owe? Or should I still claim bankruptcy like I was planning originally? If I claim bankruptcy, will the money I get from the settlement be up for grabs? If so, can a bankruptcy lawyer negotiate a settle-for-less deal? Help!


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Can i file Chapter 7 to get out of paying my ex for property settlement?

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Did Deltona Corporation file bankruptcy?

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How many year after you file bankruptcy can you file bankruptcy aging?

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If you are pregnant during an accident and your child is born months later with problems are you entitled to a settlement for the baby?

If it resulted in the baby's serious injury or death you can have the person's house, car, wages for the remainder of his lifetime, and all except the clothes on his back. But unfortunately when you file a lawsuit he will file Chapter 7 bankruptcy and you'll probably never get anything.