Ratings. Guidance. The Right Lawyer.
I am about to receive a large social security settlement. I have several debts. can i file bankruptcy before the check is issued
Detroit, MI
Viewed 53 times.
Posted about 1 month ago in Bankruptcy / Chapter 7
Flag as objectionable
Owe $20,000 total bad debt. want to file chapter 7 to eliminate and start fresh.
- Is this your question? Add additional information
Answers (2)
Peter Francis Geraci
This attorney is licensed in Michigan and 5 other states.
Posted about 1 month ago.
Flag as objectionable
Yes you can. Social security settlements are exempt from creditors under Federal Law. Even though you live in Michigan, you can use the Federal Social Security statute to list your settlement, and claim it as exempt from creditors.
David E. Tovarez
This attorney is licensed in Michigan.
Posted 5 days ago.
Flag as objectionable
The ability to exempt the Social Security under the Federal exceptions is the "right to receive," once received they are no longer exempted under the federal exemption. It should also be exempted under the state exemptions, but your other exemptions will be limited.
|
