Accident award - part of bankruptcy estate?
Question Details:
I was in a car accident the car was totaled the amount awarded was $9,406, the amount owed on the car is $4,000. Do I get any money back or do they keep it all ?
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Bankruptcy Law Answers
The right to the proceeds of the personal injury lawsuit become property of the estate and, upon the filing of the bankruptcy, the Trustee succeeds to the rights of the debtor. However, an exemption for at least a part of the proceeds may apply.
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