Louis Jay Esbin's Answers

Does a personal injury settlement go into a trust account?

You need to consult with your bankruptcy counsel. The answer is more complicated because it will depend upon whether your counsel advised you on exemptions relating to personal injury claims and settlements. You should review your Schedule B (personal property) to make sure the personal injury claim was properly disclosed, and Schedule C (exemptions) to determine the extent of any exemptions claimed. Did you disclose and exempt the claim? If so, how much did you exempt versus the amount...

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School goes Bankrupt, new school takes over and wants to collect debt of bankrupt school. Can they do this?

The answer to the question lies in what was actually authorized by the Bankruptcy Court. You will need to find out what the new school actually purchased from the bankrupted (debtor) school. Once you have that information you will know better what your rights and remedies may be. It is possible they purchased the assets that included the accounts receivable, but even with that, the terms of what the court authorized are critical. Is it possible the new school is merely the reorganized old (...

Can I file for chapter 13 if my home is about to be in foreclosure and I dont currently have a job but receive unemployment?

The answer to this question must take into consideration more than just your regular monthly income, which unemployment in most Circuits makes eligible, but also the amount of your outstanding matured, liquidated and noncontingent unsecured and secured debt. Chapter 13 has certain debt limitations for each. If you exceed these debt limits you may not be eligible for Chapter 13. if you file and have insufficient income to fund a Chapter 13 plan you may find an objection from a creditor or the...