Colorado statue reads:
13-54-102. Property exempt.
(1) The following property is exempt from levy and sale under writ of attachment or writ of execution:
(a-m omitted)
(n) The proceeds of any claim for damages for personal injuries suffered by any debtor except for obligations incurred for treatment of any kind for such injuries or collection of such damages;
I'm in the midst of a personal injury claim for exacerbation of back injuries sustained in a car accident.
I believe the above statement means that any proceeds from a claim would be exempt from BK. But what does "except for obligations incurred for treatment for such injuries or collection of such damages" mean in layman's terms?
I've read that you should wait for the case to be over before filing BK, but I was wondering why if the amount is exempt?
Note: I don't really expect it to be a lot. They offerred my $750 and I laughed inside when I got that check. I'd be way happy if I could get enough for my lawyer and filing fees.
I'm really not sure how their insurance company will treat me since the accident was 2 years ago. I rejected their settlement and said I needed to find out where this went with my back. And then I thought I had passed the allowable time frame, but I found out I've got 3 years based on the new laws.
13-54-102. Property exempt.
(1) The following property is exempt from levy and sale under writ of attachment or writ of execution:
(a-m omitted)
(n) The proceeds of any claim for damages for personal injuries suffered by any debtor except for obligations incurred for treatment of any kind for such injuries or collection of such damages;
I'm in the midst of a personal injury claim for exacerbation of back injuries sustained in a car accident.
I believe the above statement means that any proceeds from a claim would be exempt from BK. But what does "except for obligations incurred for treatment for such injuries or collection of such damages" mean in layman's terms?
I've read that you should wait for the case to be over before filing BK, but I was wondering why if the amount is exempt?
Note: I don't really expect it to be a lot. They offerred my $750 and I laughed inside when I got that check. I'd be way happy if I could get enough for my lawyer and filing fees.
I'm really not sure how their insurance company will treat me since the accident was 2 years ago. I rejected their settlement and said I needed to find out where this went with my back. And then I thought I had passed the allowable time frame, but I found out I've got 3 years based on the new laws.