Can Bankruptcy Filing Affect Your Personal Injury Claim

By Prev Info - October 19, 2022

 Do you think that your bankruptcy petition is going to harm your personal injury claim? If so, below are some significant points that you should keep in mind. These things are vastly concerned with your personal injury claim before declaring bankruptcy.

Usually, debt burdened consumers often choose either a debt settlement, or bankruptcy in order to get rid of their debts. If you are, however, thinking of filing bankruptcy, then first prepare a list of your owed amount. Don’t forget to include the required documents of your assets along with the list of your debts. You might not know, but a personal injury claim is always considered as an asset. So, make sure to include that within the list of assets while declaring bankruptcy.

These days, most of the people become skeptical about disclosing personal injury claim as they think this may snatch their right of bankruptcy filing. Further, the mental chaos for not getting a good compensation for the injuries can be very destructive.

Now, how can you become eligible to get a good compensation for personal injury after filing bankruptcy?

If you are not sure that, you will be able to get the compensation alone, hire the services of a personal injury attorney. Especially, when your bankruptcy filing is complete, but the personal injury claim is still in an oscillating situation. After receiving the services of a qualified attorney, you can certainly get a reasonable compensation for the damages.

If you file bankruptcy, would your personal injury compensation be possessed?

Though there is not any specific law regarding protection for individuals on a personal injury claim, you can receive a general protection in some states.

You should remember that bankruptcy protection does not give privilege to punitive damages. However, if you are physically injured, you can ask for a protection under bankruptcy.

Lastly, make sure your attorney is experienced and knowledgeable enough to manage both your personal injury and bankruptcy cases. If you have hired an attorney with utmost prudence, you need not bother for the later. All you can leave upon your lawyer.



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