Can a bankruptcy from 10 years ago take my settlement? 17 Answers as of October 16, 2014

I filed bankruptcy in 2001. It was closed in 2001. I filed a suit against the tobacco company around 2003. As I understand, they want to pay my bankruptcy from 2001 out of this settlement.


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EDWARD P RUSSELL | EDWARD P RUSSELL
The payor wants to determine any claims of the trustee in bankruptcy. If at the time of the filing you exempted this claim you can show the payor the schedules. If the claim was not pending in 2001 then it would be an asset of the bankruptcy estate. Your attorney for the bankruptcy should help you.
Answer Applies to: Minnesota
Replied: 10/16/2014
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Sounds bizarre.
Answer Applies to: Colorado
Replied: 10/9/2014
Tokarska Law Center
Tokarska Law Center | Kathryn U. Tokarska
Did the acts of Defendant that gave rise to the claim occur before the Bankruptcy was filed? If yes, then it was a claim that existed at the time the bankruptcy was filed. Such claim was an asset of the debtor at the time the bankruptcy was filed. Unless the asset was listed in the bankruptcy schedules as an asset and either exempted or abandoned by the Trustee it is a non-exempt asset of the bankruptcy estate. The Trustee can reopen the old bankruptcy case and use funds to pay creditors. How much, depends on more facts not disclosed.
Answer Applies to: California
Replied: 10/9/2014
The Law Offices of Deborah Ann Stencel | Deborah A. Stencel
If the injury which gave rise to the suit predates the bankruptcy, they can take any unexempt portion of your settlement.
Answer Applies to: Wisconsin
Replied: 10/9/2014
Stephens Gourley & Bywater | David A. Stephens
That depends on whether the claim arose prior to or after your bankruptcy was filed.
Answer Applies to: Nevada
Replied: 10/8/2014
    Freeman Law Group, LLC
    Freeman Law Group, LLC | Derek Freeman
    It depends. Did the claim accrue prior to when you filed bankruptcy? Did you list the claim on your bankruptcy petition? From the facts you gave, it appears that the claim accrued and was filed 2 years after your bankruptcy. If that is the case, then the award from the case should not be a part of the bankruptcy estate, and the trustee has no right to seize it. You should get an attorney to help you.
    Answer Applies to: Colorado
    Replied: 10/8/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    Presumably, the damages you sought in this lawsuit had occurred by 2001 and would have been an asset in your bankruptcy case. If you forgot to list these damages & the right to sue for compensation, there is no time restriction on the bankruptcy court to come back and seek this asset.
    Answer Applies to: Nevada
    Replied: 10/8/2014
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    If you did not list this lawsuit as an asset it remains property of the bankruptcy estate forever. So yes, the trustee currently owns these settlement funds.
    Answer Applies to: California
    Replied: 10/8/2014
    Steele, George, Schofield & Ramos, LLP
    Steele, George, Schofield & Ramos, LLP | Alan E. Ramos
    It depends. If the claim existed at the time that you filed your bankruptcy, it could be an asset of the bankruptcy estate. You should contact an attorney an provide him/her with all of the facts regarding this claim.
    Answer Applies to: California
    Replied: 10/8/2014
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    Any lawsuit that existed prior to the bankruptcy, the trustee can reopen your case and take those funds to pay any of those creditors that file a proof of claim.
    Answer Applies to: New York
    Replied: 10/8/2014
    Law Office of Stuart M. Nachbar, P.C.
    Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
    You will to look and see if the potential case was listed in the bk. If it was, was it abandoned by the trustee. Otherwise it is possible.
    Answer Applies to: New Jersey
    Replied: 10/8/2014
    Law Office of Andrew Oostdyk
    Law Office of Andrew Oostdyk | Andrew Oostdyk
    Yes, the Trustee can collect on the settlement on behalf of your creditors in the Bankruptcy. I presume your lawsuit was based on acts committed prior to your filling Bankruptcy in 2001. The potential claim against the tobacco companies was required to be disclosed in your Bankruptcy filing. If it was disclosed, the Trustee would need to have abandoned the potential lawsuit in order for you to keep the entire settlement. If the lawsuit was not disclosed, or if the Trustee did not abandon the claim, the Trustee has a right to collect on the settlement.
    Answer Applies to: Texas
    Replied: 10/8/2014
    Patrick W. Currin, Attorney at Law | Patrick Currin
    No. Not possible.
    Answer Applies to: California
    Replied: 10/8/2014
    D.J. Rausa, Attorney at Law | D.J. Rausa
    If you had a claim against the tobacco company when you filed for bankruptcy, and did not disclose it, then the claim is part of your bankruptcy estate. you will need to hire an attorney to assist you asap, unless you have one already.
    Answer Applies to: California
    Replied: 10/8/2014
    Marc S. Stern
    Marc S. Stern | Marc S. Stern
    That is a difficult question and the answer is maybe. It depends upon when the cause of action accrued. Was the action listed as a claim on your bankruptcy schedules as an asset? It is a very difficult question to answer without many more facts.
    Answer Applies to: Washington
    Replied: 10/8/2014
    Mauritz Van Niekerk, Attorneys at Law
    Mauritz Van Niekerk, Attorneys at Law | Christiaan van Niekerk
    No it can not unless you did not disclose it
    Answer Applies to: New York
    Replied: 10/8/2014
    Danville Law Group | Scott Jordan
    No that is not correct.
    Answer Applies to: California
    Replied: 10/8/2014
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