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    Default Re: Personal Injury Claims and Bankruptcy

    A personal injury claim should be disclosed as a contingent asset in the bankruptcy case.

    State law exemptions may vary; but looking at federal law there are some exemptions that could shield the claim from creditors, in part or in full. Federal exemptions for injury claims are usually larger than state exemptions.

    The federal exemption for personal (bodily) injury claims can be found at 11 U.S.C. 522(d)(11)(D). Under that exemption, you may keep up to $23,675 from a personal injury award or settlement, not including pain and suffering or compensation for monetary losses. Assuming that both spouses are plaintiffs in the personal injury case, the exemption may be doubled to $47,350.00 for a couple filing a joint bankruptcy. That figure is periodically adjusted for inflation.

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