The reasons for filing bankruptcy are as different as the people who seek bankruptcy relief. Some people need the assistance of the bankruptcy court due to unemployment or a decrease in income while others are experiencing financial problems due to a divorce or the loss of a spouse. Regardless of the reason why someone may need to file bankruptcy, the law is the same – – bankruptcy helps a person who cannot pay his or her debts find relief from those debts. In the case of an accident, a person may need to file bankruptcy because of a personal injury case. If this is the case, an experienced bankruptcy attorney needs to be consulted to ensure the personal injury settlement will be protected in the bankruptcy case.
If you have questions about your personal injury settlement and bankruptcy, contact the Law Office of Travis J. Richards, LLC to schedule a free bankruptcy consultation. Do not risk your personal injury settlement by trying to file your own bankruptcy or waiting until a creditor attempts to seize your settlement.
Protecting A Personal Injury Settlement in Bankruptcy
Whether you can protect 100% of your personal injury settlement in your bankruptcy case depends on several factors including, but not limited to, the size of the personal injury settlement and the bankruptcy chapter you file.
A portion of your personal injury settlement can be protected in bankruptcy with a specific bankruptcy exemption. Any excess funds may be protected under the wild card exemption. However, depending on the size of the personal injury settlement, you may only be able to protect a portion of the settlement. After examining the allowable exemptions, we look at whether filing a Chapter 7 case or a Chapter 13 case will benefit you the most. Because each case is different, how we handle a personal injury settlement will depend on the specific circumstances of the person filing bankruptcy.
Timing is another factor that may be very important in some cases regarding a personal injury settlement. The sooner you contact my office the better. In many cases, we can work with your personal injury attorney to discuss timing so that we take advantage of every opportunity to protect your personal injury settlement. Filing bankruptcy will help you recover from a devastating financial crisis but you must take the first step by calling my office to schedule your free bankruptcy consultation. You have been through an ordeal with your personal injury case – you do not need to continue suffering because an injury caused by another party placed you in a financial bind.
Contact an Experienced Mount Holly Bankruptcy Attorney
Personal Approach, Professional Service, Affordable Payment Plans
The Law Office of Travis J. Richards, LLC is a full-service Mount Holly bankruptcy law firm focused on Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, debt consolidation, credit repair, tax liens, student loans and foreclosure. We represent clients in Burlington County and throughout South Jersey.
Contact our office at 609-267-5297 to schedule your free consultation to discuss bankruptcy and non-bankruptcy alternatives. You may also use our convenient online contact form and one of our friendly, professional staff members will contact you to answer your bankruptcy questions and/or schedule a free consultation with Travis J. Richards.
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