Will the Bankruptcy Trustee Take My Personal Injury Settlement?
By Jill Michaux, Kansas Bankruptcy Attorney on Nov 3, 2007 in Bankruptcy Myths, Bankruptcy Practice and Procedure, General Bankruptcy Information, Kansas, Protecting Assets In Bankruptcy
Kansas law has no exemption for a settlement for a personal injury claim, unlike the law of some states which does have an exemption. If you have financial problems and you have a claim against someone for personal injuries or if you have a settlement of a personal injury claim by one lump sum payment or periodic payments, you should hire an attorney experienced in asset protection and bankruptcy.
Omitting the claim or settlement is not the solution. Omitting assets in bankruptcy is a crime and will cause you to lose them even if there had been a legitimate way to protect them. Omitting a pending claim (cause of action, lawsuit) will result in dismissal of your personal injury claim with zero recovery for you. Defense attorneys routinely run claimants’ names through the bankruptcy public records to see if you have disclosed your claim.
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