Are Personal Injury awards exempt within Bankruptcy ?
I was wondering if personal injury awards can be seized in chapter 7 liquidation ?
Answers:
Although bankruptcy is a federal law, the property that you can hold after filing bankruptcy is largely determined by state decree. The laws of each state are different, so you should consult a local liquidation attorney instead of relying in any advice you receive surrounded by this forum.
All income is counted..regardless. The courts have to see if you have the propensity to pay or not.
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Answers:
Although bankruptcy is a federal law, the property that you can hold after filing bankruptcy is largely determined by state decree. The laws of each state are different, so you should consult a local liquidation attorney instead of relying in any advice you receive surrounded by this forum.
All income is counted..regardless. The courts have to see if you have the propensity to pay or not.
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