Recieving a Settlement after discharge 5 years ago

[Miceleb]

The Trustee should only take what your Creditors file Claims for. You should get the remainder. It'll just take a while to get thru the process. Probably in the neighborhood of roughly 6 months or so I'd think.

Update:

I called and talked to the Trustee he told me that they will send 9200$ of my settlement. Then they will hold $50,800 until all claims are recieved within the 90 day period. After the 90 days all claims will be paid and the "administrative" fee's are paid to the trustee for there work involved. The Trustee will then put in a motion to distrubute the remaining proceeeds of what is left over.

I hope this helps some of you with the same situation. And yes even after 5 years the case remained open because i disclosed the settlement at the beginning of the bankruptcy process!

[Minnymouth]

When I made the statement "the judge would not allow it" it pertained to a possible lottery ticket purchased after discharge and after case closed.......
Normally a judge would not allow the case reopened just so the Trustee can seize these funds.... They are not "planned funds", were not available or known about at the time of filing BK and during the BK process......

If the case is discharged over 180 days and case closed over 1 year more than likely the judge will not reopen the case and bother the lottery money.......

Now a lawsuit that he BK knows about during your bankruptcy - yes they will reopen your case when that suit is settled to seize funds available.... when you filed they WERE part of the bankutpcy estate.....

[stressed07]

What if the lawsuit was never put in the bankruptcy so the trustee never knew about it?

[CRRAVOSA]

Note all your creditors may not get paid, if a creditor does not file a proof of claim they are out of luck. Also please don't forget the Trustee will be ducting his/her fee.

[Spartan]

What if the lawsuit was never put in the bankruptcy so the trustee never knew about it?

In which case, you have perjured yourself. In your bk proceeding, you are asked if there is any lawsuit by you or against you, and if you are anticipating receiving anything from pending lawsuits. You have to answer truthfully.

[keepmine]

In which case, you have perjured yourself. In your bk proceeding, you are asked if there is any lawsuit by you or against you, and if you are anticipating receiving anything from pending lawsuits. You have to answer truthfully.

It's standard procedure in litigation to do some opposition research. The first thing a defendants lawyers would do is look at Pacer and Lexis to see if you have any bk or pther public record. You can bet they'll inform the bk trustee.

[thewife]

My question is, how would the Trustee know if you win the lottery or after 5 years get a settlement? Will they keep checking on me after my bankruptcy? I enter online sweepstakes all the time and while I have never won anything BIG like a car, I do win things from time to time, hoping to someday win big

[lrprn]

My question is, how would the Trustee know if you win the lottery or after 5 years get a settlement? Will they keep checking on me after my bankruptcy? I enter online sweepstakes all the time and while I have never won anything BIG like a car, I do win things from time to time, hoping to someday win big

The current bk law has provisions for inheritances and court monetary awards - either received within six months of filing is a part of the bk estate and the trustee can take it to distribute to creditors.

Lottery winnings are not mentioned in the law, although if the trustee finds out you won a large sum in a lottery within six months of filing, he/she is likely to ask the court to rule that the winnings are a part of your bankruptcy estate so the trustee can take the winnings.

Five years after your bk case is discharged and closed, whatever you win, inherit, or are awarded by the courts is yours.

[guzzie]

sorry about your moms wrongful death.....even if they take the 15,000 you will still have the 45,000 and be debt free....best of luck with this situation....

[EveryDayAdam]

Just a piece of advice: Make sure you follow your creditor claims VERY closely. They might try to inflate their claims to include interest on the amounts you owed them even after filing for BK. Don't let them do this. When you file for BK that freezes the amounts you owed them indefinitely.

However, I think at this point, your debt has probably been sold to a long series of junk debt buyers. The original creditor isn't going to care, because they don't own the debt anymore. And they probably won't forward it on to the long long string of junk debt buyers who've had your account since your BK in time to get it to the correct one for them to file a claim.

While it's possible you will have to pay some of your debts back with this money...id be surprised if any creditors file claims after 5 years.

However, if anybody does a claim, make sure you scrutinize the amounts that they claim...because those amounts are going to be paid 100%, and will cost you in the end.

It will just take some time for the whole process...notification, wait 60 days for claims, pay any claims, and audit your case...and then finally close. Once your case is closed, you'll get a big fat check from your trustee for the bulk of your settlement!