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What types of lawsuit settlements are exempt from bankruptcy turnover?

Birmingham, AL |
Filed under: Bankruptcy exemptions

Compensatory/loss damages awarded shortly after filing bankruptcy to repair real-estate. Bank who is also a creditor filed a motion for turnover. Also, is this invasion of privacy?

Attorney Answers 3


  1. I don't know what invasion of privacy has to do with anything you described, but what is exempt and what is not depends entirely on the applicable exemptions that were available to you and employed when and where you filed.

    Advice on this forum is for informational purposes only and should never be mistaken as a substitute for legal advice. If you are in need of legal advice, you should consult local legal counsel.


  2. Exemptions vary widely from state to state and no attorney is going to know the exemptions in all 50 states. So I am attaching a chart that lists in non-legal terms the exemptions from all of the states.

    Unless the laws specifically provide for an exemption, it is within the discretion of the bankruptcy trustee whether or not to demand the turnover of any individual asset.

    Hope this perspective helps!


  3. You should have included the lawsuit as an asset on your Schedule B. Other than that, as Ms. Bunce pointed out, exemptions vary wildly by state. You should talk to a bankruptcy attorney to see what you could exempt. A link to Alabama's exemption is below.

    The information provided here should not be taken as a substitute for legal advice from retained local counsel. Mr. Basmaji does not intend to create nor does he consent to a formation of an attorney-client relationship with anybody, including the question poster, just by virtue of posting information on this website. If you are in need of legal advice, you should consult and retain local legal counsel.

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