CAN A CHAPTER 7 BANKRUPTCY TRUSTEE KEEP MONEY RECEIVED FROM A SETTELEMENT

Attorney answers (4)

1. 

   Paula Sinclair

   Twin Falls Bankruptcy Attorney

   Contributor Level 20

   5

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   Answered February 02, 2013 20:00. YES!!! And-- this is a question you should be discussing with your attorney. If you have been foolish enough to get this far without legal assistance, you are about to find out how costly that choice can be. Retain counsel at once. It is you only hope for keeping any part of your settlement (and it could be too late. If you do not know an experienced bankruptcy lawyer, use the attorney-finder at www.nacba.org.
   
   Best wishes for a favorable outcome, and please remember to designate a best answer.

   This answer is offered as a public service for general information only and may not be relied upon as legal advice.

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2. Licensed in TX

   

   Warren NorredPro

   Arlington Bankruptcy Attorney

   Contributor Level 14

   

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   Answered February 03, 2013 12:58. It depends. If you listed the suit in your schedules, and the trustee did not issue a discharge, or carved out the claim, or you didn't list the suit at all, then the trustee can absolutely take it. But if you have been issued a discharge and the case has been closed, the trustee is precluded. Timing matters. Pay an attorney to look at the issue.

   I'm not your attorney; my answer includes assumptions. If you want me to be your attorney, I'm easy to find.

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3. Licensed in TX

   

   Andrew Oostdyk

   Dallas Bankruptcy Attorney

   Contributor Level 9

   2

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   Answered February 07, 2013 09:53. Possibly, you may be able to keep a portion of the settlement if it was listed and exempted in your Bankruptcy Schedules. You should contact a Bankruptcy Attorney to review your filings and help determine what amounts you are entitled to.

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4. 

   Diane L Gruber

   West Linn Bankruptcy Attorney

   Contributor Level 17

   2

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   Answered February 02, 2013 20:21. YES!!!!!!!!!!!!!!!!!!!!!!! Can and will take the entire settlement except for whatever exemption amount is allowed in Texas. Good luck.

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   Paula Brown Sinclair, Twin Falls Bankruptcy Attorney

   Posted 5 months ago.

   But the exemption must be properly claimed, and this late date some finesse may be needed to defend an aggressive trustee.

   

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   Diane L Gruber, West Linn Bankruptcy Attorney

   Posted 5 months ago.

   I agree! Every trustee is a little different, as are the trustees in each jurisdiction.