Sacramento, CA asked in Bankruptcy for California

Q: im negotiating a injury claim and injury stopped me from working and put me in financial ruin

Not sure when if getting settlement but I need to take of my creditors currently. If haven't settled yet Is that going to effect my bankruptcy. Is there a time period

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4 Lawyer Answers

A: you have to disclose the settlement or potential settlement to your attorney and the court. If you haven't filed a bankruptcy yet you should immediately talk to a bankruptcy attorney to go over your options.

Peter Maurice Lively agrees with this answer

A: The disclosure requirements when filing bankruptcy are absolute. I urge you to consult with an experienced bankruptcy attorney before you take any further action so you can fully understand your options and issues. The mere fact that you have a claim, is an asset that must be considered and disclosed when filing bankruptcy - even if no settlement has been reached yet.

Peter Maurice Lively agrees with this answer

A: more info needed.

you should ALWAYS disclose everything to your bankruptcy lawyer as the info could cause your lawyer to take another road.

A: You must disclose all your assets, including your settlement claim, which now belongs to the trustee of the estate.

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