Q: If I'm filing bankruptcy and getting a settlement from an accident do I have to disclose to the court
A: Yes. Absolutely.
A: Yes.
A:
Of course you have to disclose this claim. Section 541 defines what property you must list and it includes everything that you "own" or have a right to.
Failure to disclose all assets may be grounds to prevent a discharge of debt or to revoke the discharge later on.
You may be able to exempt all or part of the settlement. You are going to need experienced legal advice to get the benefits of bankruptcy.
A:
yes, disclose.
discuss with your BK lawyer and not on an open forum where you are put on notice of what you can or can't do.
A: As stated by my colleagues - bankruptcy requires full disclosure of all assets and debts. I urge you to talk with your bankruptcy attorney regarding disclosures and importantly, how your assets may be protected and retained by you. If you don't have an attorney, I urge you to consult with an experienced bankruptcy attorney to receive the advice that is so critical when filing bankruptcy.
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