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Bankruptcy and workmans comp settlement

Asked Feb 16, 2009, 05:32 PM — 2 Answers
Hi my name is angela and I have to file chapter 7 while my soon to be ex hase to file chapter 13. My question is this. I have a workmans comp settlement of 15,ooo. And this is what I am living off of at this time. Will the chapter 7 take my money away from me and give it the creditors. Is there a limit amount of cash I can have?
My bankruptcy is only for the house 1st and 2nd mort and 3 credit cards, but my divorce says that the ex will not hold me liable for the credit cards. Does that mean anything to the bankruptcy.

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twinkiedooter's Avatar
twinkiedooter Posts: 12,172, Reputation: 6046
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#2

Feb 16, 2009, 05:58 PM
Have you seen a bankruptcy attorney yet about this and discussed what you should do?
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Fr_Chuck's Avatar
Fr_Chuck Posts: 72,607, Reputation: 37031
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#3

Feb 16, 2009, 06:20 PM


Sorry but you can not file bankruptcy on just this debt or that debt, You have to list every debt you have. On some debts such as cars you can re-affirm those debts though the court, but you can not just pick who you want to list. So if you owe the library 10 bucks it is suppose to be listed and so on.

You are limited by state law how much cash you can keep and after that amount the rest will be taken by the court.

Pease set down with a local attorney
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