Legal Question in Bankruptcy in Florida

If you file for bankruptcy and have not yet settled your accident case, then the bankruptcy trustee will have the right to settle your case and use all or a portion of the settlement funds to pay your creditors. If you have already settled your accident case and then file bankruptcy, the money that you received from your case is part of the personal property that you must identify on Schedule B of the bankruptcy forms. Some or all of the money may be exempt from creditors, but it is likely that you would have to use some portion of it to pay creditors. If you spend the money on household expenses before filing for bankruptcy, then that may be permissible, but one would have to know a lot more about your specific situation. Our office is in Palm Beach County. We offer a free initial consultation, and would be happy to discuss the situation with you. (561) 864-0007