New Port Richey, FL asked in Bankruptcy for Florida

Q: IF i FILED A CHAPTER 7 LAST YEAR AND IT HAS BEEN DISCHARGED DO I NEED TO REPORT A SETTLEMENT I MAY RECEIVE THIS YEAR

THE SETTLEMENT IS FROM ROUND UP DUE TO GETTING LYMPHOMA....

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5 Lawyer Answers
Mr. Chad Van Horn
Mr. Chad Van Horn
PREMIUM
Answered
  • Bankruptcy Lawyer
  • Miami Lakes, FL
  • Licensed in Florida

A: The short answer is if the cause of action (injury) arose prior to your filing, yes, it should have been listed and you should report it. If the cause of action arose after your filing, no, you would not have to report it. You should let your attorney know either way.

Stuart A. Young and Timothy Denison agree with this answer

Stuart A. Young
Stuart A. Young
Answered
  • Bankruptcy Lawyer
  • West Palm Beach, FL
  • Licensed in Florida

A: Yes, assuming that the claim or injury occurred prior to your filing for bankruptcy then this must be disclosed to the Trustee. It is always best to report it to your attorney and have her or him contact your Trustee.

Timothy Denison agrees with this answer

W. J. Winterstein Jr.
W. J. Winterstein Jr.
PREMIUM
Answered
  • Bankruptcy Lawyer
  • Boyertown, PA

A: The actual issue you raise is whether you knew, or should have known, when you filed your sworn Schedules in your Ch. 7 case, that you might receive income or any distribution in what was probably then the pending Roundup litigation. That litigation, and the possibility that you could benefit, should have been listed and shown in your Schedule B.

Talk to your bankruptcy lawyer. It may be that some or all of your expected distribution may be claimed as exempt. Your lawyer will know the best way to deal with this matter.

Timothy Denison agrees with this answer

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

A: Yes, if the claim arose prior to filing.

Paul Cain
Paul Cain
PREMIUM
Answered
  • Bankruptcy Lawyer
  • Ponte Vedra Beach, FL
  • Licensed in Florida

A: Based on the facts provided, t depends on when the injury occurred. Any potential claims you have up until the day of filing are normally part of your bankruptcy estate. Because your discharge was so recent, any such claims should have been listed on your bankruptcy petition.

You should follow up with your attorney and advise them of the status of your potential settlement. They should help you make any required updates to your case.

Best of luck to you, I hope you get this straightened out quickly.

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