ARE PERSONAL INJURY SETTLEMENTS EXEMPT FROM BANKRUPTCY?
With a Chapter 7 bankruptcy in Florida, it is possible to protect some or all of a settlement or award depending on what other assets a debtor has. An accurate determination on what can be protected should be made by an experienced bankruptcy attorney.
In some situations even if some or all possible damages or settlement amounts are not eligible for protection under Florida’s bankruptcy exemptions, the bankruptcy trustee may decide against pursuing an action depending on the circumstances.
With Chapter 13 bankruptcy in Florida, the debtor is not required to surrender any assets. Instead, a repayment plan is made. If money is awarded from a settlement, it could be considered income and may be incorporated into part of a Chapter 13 plan. An experienced bankruptcy lawyer can help make a determination on how much, if any, would be subject to the plan, which also depends on the facts of the case.
For over 25 years, our personal injury lawyers have represented injured people of the Tampa Bay area who are seeking compensation for injuries or damages sustained from car accidents, injuries caused by DUI and drunk driving, motorcycle and large truck crashes, boating accidents, as well as slip, trip and fall injuries and more in both State and Federal courts.
Martindale Hubbell peers and judges have rated us as having the highest levels of legal ability and professional ethics.Our personal injury attorneys are supported by a superior staff of legal assistants and expert witnesses. When our law firm represents you, multiple lawyers and legal specialists work together on your case to get you the results you deserve.
There are no costs or fees unless we obtain a settlement for you. – View our recent Personal Injury Settlements and Results
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