Will Declaring Bankruptcy Effect My Personal Injury Award?
If you live in New York, dealing with both a personal injury lawsuit and a bankruptcy can be extremely complicated. Your Personal Injury Claim is Considered an Asset Regardless of which came first – your personal injury claim or your declaration of bankruptcy – your personal injury claim is going to be considered an asset in your estate, even if you haven’t won anything yet. So, it is vital that you get your personal injury attorney and your bankruptcy attorney working together. If you already have a personal injury claim in process when you declare bankruptcy, you will need to list any funds you are expected to receive if you win the lawsuit. If you are in an accident while you are in the bankruptcy process, and wish to start a personal injury claim, you will have to notify your bankruptcy lawyer and court trustee about the claim and have it added to your potential assets. If you are in an accident while you are in the bankruptcy process and a...