Chattanooga, TN asked in Bankruptcy for Tennessee

Q: A few years ago i became part of a class action lawsuit due to asbestos exposure. I filed a 13 in September.

When I filed I had forgotten to tell the attorney I receive small checks at different times, but so few over time. Will the trustee take these checks in the future? The attorney said she would have to file an ammendment, The asbestos lawyer will not release any funds until she says ok. I cant ever get a straight answer, please help, thank you!

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2 Lawyer Answers
Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: You need to amend your petition and include them, then use any remaining exemptions to protect your payments.

Michael Hollins Sr.
Michael Hollins Sr.
Answered
  • Bankruptcy Lawyer
  • Nashville, TN

A: You should disclose this settlement income to the court when you learn of it -- you do this by amending your Chapter 13 schedules. If you don't, you could later lose your right to any damages from the claim. The next step would be to exempt these funds as much as possible, where the law allows.

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