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  1. #1
    Join Date
    Apr 2005

    Default Chapter 7 and Worker's Compensation Settlement

    To make a long story short - My husband became disabled in 2003, after being injured at work in 2001. We have had a WC Attorney since 02. We owned a 40 acre farm, that also had a home in need of repair. We had recently borrowed against the farm to remodel house just 4 month's before husband became totally disabled. We sold the house and some of the acreage to take care of that loan with the bank and retained 8 acre's and farm building's. I am currently living inside a machine shed in a 31 ft. camper.
    We acquired around 28,000 in credit card debt between 2001 and 2003, trying to keep bill's paid. My husband went from working a lot of overtime hours to being on light duty for 2 year's, because of his injuries. We kept thinking thing's would get better, we could sell the property for a higher price after remodeling the house, and get squared away. Instead he had a mental breakdown from chronic pain caused by his injuries. He started receiving SS Disabilty within 6 month's of his leaving work on a stretcher and staying in a mental health facility for 5 day's.
    Our attorney for the last year has led us to believe he had a strong case of getting permanent total disabled in his WC award. We have held off the credit card companies with a *hope to repay with settlement proceed's*. Now the attorney is not feeling as strongly about a permanent total as he was before, and is wanting him to settle for about a third of what he might receive if we go for total permanent.
    We certainly had no plan's to file for bankruptsyy. But now I think that is the only way I will ever have a home again. I am disabled, but can not get disability because of work credit's, not enough in a ten year period.
    I almost feel like our credit is in the toilet already, if we file bankruptsy, there is a good chance I can get a home again. If we repay even half of the credit card debt - it will make a difference in a home or not at this point.
    If we do file bankruptsy - will his WC settlement be considered in a way to repay these credit card bill's. Should we try and file bankruptsy before or after we settle. What can we keep. WE own our one vehicle - 8 acre's of land with farm building's on it, and a 31 ft. camping trailer that we live in. That is all we have left.
    WE live in Missouri if that help's. I am so scared of making the wrong decision. This is the rest of our lives now, and we are both in not so good health. I just want some peace and a place to live.

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Chapter 7 and Worker's Compensation Settlement

    Consult a bankruptcy lawyer. You would want to check to see if you would qualify for Chapter 7 bankruptcy, or if you would have to go through Chapter 13 bankruptcy. If you qualify for Chapter 7, you can probably resolve the bankruptcy before settling the comp case, which should take the settlement money out of the equation.

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