Phen Fen

[cwd-ftworth]

I am in the Phen Fen class lawsuit. This has been ongoing for over three years now and from what my attorneys tell me, it might take another 6-8 months before all the cases are audited to find out if I was approved for damages.

Do I have to list this lawsuit in my bankruptcy? With my luck I will only get the $2,000. I have no assets and personal belongings are worth less than two grand. Can I protect a part of the settlement if I am lucky to get it? They were telling us if we pass audit, we could get $40,00-50,00 but with attorney fees and expenses I could see anywhere from $24,000-30,000. Yes I am filing Pro Se and in Texas.

Thanks
Cwd

[StaciMM]

From what I looked up, the TX exemptions don't help you. You do have the option, though, of using Federal exemptions.

http://www.bankruptcyinformation.com/exemp-fed.htm

http://www.bankruptcyaction.com/fedexemptions.htm

I posted 2 links because they give different values, I don't know which is correct...

I'm not sure if you mean $2,000 or $24,000... The Federal list is very generoug on perosnal property, and allows a wild card for part of the homestead exemption to go to 'any property'. It also lists 'personal injury' compensation and I'm guessing the lawsuit would fall under that. So, depending on which set of #'s is right, $26,150-$27,700 would be safe. You could list the 'projected lawsuit settlement' as an asset, then list the appropriate exemption on schedule C.