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  1. #1
    Join Date
    Nov 2017
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    3

    Default Re: Is a Personal Injury Settlement an Asset in Bankruptcy

    I was the one that was paid the settlement. The settlement was fully paid a little over a year ago. Some of the money was to pay bills since I was out of work for 1 year. Some was to used for personal things. I do not have any of the money left.

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Is a Personal Injury Settlement an Asset in Bankruptcy

    If you don’t have any money left then refer to taxing matters statement;

    If you spent or gave the money away, then the details of when and how you spent/transferred the money will matter as to whether the trustee can recover it as a preference payment.

  3. #3
    Join Date
    Oct 2014
    Posts
    8,238

    Default Re: Is a Personal Injury Settlement an Asset in Bankruptcy

    Quote Quoting DarrinB
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    I was the one that was paid the settlement. The settlement was fully paid a little over a year ago. Some of the money was to pay bills since I was out of work for 1 year. Some was to used for personal things. I do not have any of the money left.
    Ok, then you asked at the beginning of this threat whether you would be required to replace the money that was spent. The answer to that is no. If you paid bills within the 90 days before the filing of the petition those can be considered preference payments but in those situations the trustee goes after the business that got your money to return it to the bankrupt estate; the trustee does not come after you for it. In short this is not going to be something that will require you to cough up cash (which you likely do not have anyway).

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