Legal Question in Bankruptcy in Virginia
I have a Judgment against my ex husband for a divorce monetary award. If I declare chapter 7 will I lose the Judgment to creditors? What if I haven't file yet (am in the process) and my ex and I settle the Judgment between ourselves?
Asked on 7/13/10, 10:52 am
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
The monetary award would go to the trustee except to the extent you can exempt it. If you settle it first in bad faith, it could be considered fraud on your creditors, voiding the settlement and potentially costing you your discharge.
Answered on 7/13/10, 4:21 pm
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