Will I lose my personal injury settlement award if I file for bankruptcy?
Filing for bankruptcy can be a difficult decision to make, and many individuals worry that they may lose their personal injury settlement award if they do so. But there is some good news – in most cases, the answer to the question “Will I lose my personal injury settlement award if I file for bankruptcy?” is no.
When it comes to filing for bankruptcy and protecting your personal injury settlement award, it's important to understand what type of protection your state offers in terms of exemption laws. State laws vary widely when it comes to exemption amounts and types, but typically you will be able to keep your entire settlement award or a significant portion of it. It is also important to note that any income from a structured settlement annuity may also be exempt from creditors in most states.
The main Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
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